Sakuma Exports gains nearly 10% after board approves stock split

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Shares of Sakuma Exports added nearly 10 percent intraday Friday after board approved the sub division of its equity shares.

Company board approved sub-division of equity shares of the company from the existing face value of Rs 10 per equity share to face value of Re 1 per equity share, subject to approval of the members of the company.

It also approved raising funds by issue of equity shares, as may be permitted, by way of a qualified institutions placement (QIP)/ Foreign portfolio Investment (FPI) or any other placement for an aggregate amount not exceeding Rs 800 crore.

At 14:42 hrs Sakuma Exports was quoting at Rs 218.95, up Rs 16.90, or 8.36 percent.

Posted by Rakesh Patil