Ceramics company, Exxaro Tiles, is all set to split for the first time. The company has announced a stock sub-division in the ratio of 1:10 and is expected to fix the record date soon. Amidst the announcement, the stock witnessed buying sentiment on October 15. The stock is currently below Rs 100.
Exxaro Tiles Share Price:
After market hours of October 15, Exxaro share price ended at Rs 94.36 apiece, up by 0.8% on BSE. The company's market cap is at Rs 422.18 crore. The stock's 52-week high and low is at Rs 146.90 apiece, and Rs 76.02 apiece respectively.
The price-to-equity ratio is at (-)196x, while the return on equity is at -0.78%.
YTD, the stock price is down by 19.35% on BSE. In a year, the stock shed 32.4%.
Exxaro Tiles Stock Split:
In a board meeting on October 14, the company's board approved the sub-division/ split of existing 1 (One) Equity Share of the face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 10 (Ten) Equity Shares of the face value of Rs. 1/- (Rupees One Only) each fully paid up, subject to shareholders approval.
It said, "The record date for the purpose of above sub-division/ split of Equity Shares shall be decided after obtaining approval for sub-division/ split from the shareholders through postal ballot electronic voting process and will be intimated in due course."
The company plans to complete its stock split action in about 2-3 months from the date of shareholders' approval.
About Exxaro Tiles:
The company is engaged in manufacturing and marketing vitrified tiles used mainly for flooring solutions. We commenced business as a partnership firm in 2007-08 as a manufacturer of frit, which is one of the raw materials used in manufacturing of tiles and have over the years, diversified, expanded and evolved into a manufacturer for vitrified tiles. The company's business operations are broadly divided into two product categories: Double Charge Vitrified Tiles; and Glazed Vitrified Tiles.
The company has 1000+ designs in its product basket, which are marketed under the brand of Exxaro.
Click it and Unblock the Notifications
Sign in with Google