Steel maker Jindal Steel and Power on Friday said it has fixed January 28, 2008 as the record date for splitting its stocks in the ratio of 1:5. Consequently, the shares of the company of Rs 5 each would be sub-divided into five shares of Re 1 each, it said in a filing to the Bombay Stock Exchange.
The firm said it had received approval from the shareholders for the stock split on Thursday. In late afternoon trade, shares of the company were trading at Rs 15,200, up 5.53% at the BSE.
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