Small Cap Stock Announced A Stock Split In The Ratio Of 10:1

Hi-Tech Pipes Ltd, a leader in stainless steel piping space. It has announced a stock split ratio of 10:1 shares. Here are the details.

Stock Split Details:
The board of Hi-Tech Pipes has declared a 10:1 stock split in a ratio. "The sub-division/split of existing equity share of the Company from one equity share having face value of Rs, 10/- (Rupees Ten only) each, fully paid-up into Ten (10) equity shares having face value of Rs. 1/- (Rupees One only) each fully paid-up, subject to the approval of shareholders and other competent authorities. The Record Date for the purpose of sub-division/ split will be intimated in due course."

Stock Movement

The company stock price ended at Rs 903.15, 4.23 % down on Friday's session on BSE. It hit a 52-week low of Rs 323. The small cap stock rallied from 52-week low by 179.57% to its latest market price. Hence to make it more affordable and improve liquidity the board met and decided to declare a stock split.

About the Company

Hi-Tech Pipes is a small cap company engaged in the manufacturing of a wide range of steel tubes, pipes, and coils. The product finds application in a wide range of industries such as infrastructure, telecom, defence, power distribution, railways, airport, real estate, automobile and agriculture, among others.

Disclaimer

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