Specialty Chemicals Stock To Consider Sub-Division Of Shares On Monday, Scrip Up 66.93% In 6 Months

HP Adhesives Ltd. will consider sub-division/split of the shares in a Board meeting scheduled on Monday, Sept 04, 2023. According to the filing by the Board on Aug 17, 2023, the Board will consider splitting of Equity Share Capital of the Company having a face value of Rs 10/- each, fully paid up.

HP Adhesives is an adhesives and sealants company that operates in the Specialty chemicals sector. The company has a market cap of Rs 958.25 Crore. It is a small-cap company.

"A meeting of the Board of Directors of the Company will be held on Monday, 04th September, 2023, to consider and approve, inter-alia, a proposal for alteration of Equity Share Capital of the Company by way of subdivision/splitting its existing Equity Shares having a face value of Rs. 10/-
each, fully paid up in such manner as may be determined by the Board of Directors pursuant to the provisions of Section 61(1)(d) of Companies Act, 2013 and subject to the approval of Shareholders of the Company and /or any other regulatory/statutory approvals, as may be required," the company's board said in a filing.

The Company shall remain closed for all Insiders including Designated Persons, Connected Persons and their immediate relatives, from today till 48 hours after the declaration of the outcome of the board meeting, the company said.

On Thursday, shares of HP Adhesives jumped 1.50% to close at Rs 521.50 per share on the BSE. The shares surged 0.57% in the past 1 week, while in 1 month, it surged 16.45%. It gave 66.93% positive return. In 1 year, it gave 13.58% positive return.

The stock hit its 52-week high on Aug 18, 2023, at Rs 539.95 per share and its 52-week low on Mar 02, 2023, at Rs 309.80 per share.

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