Read more about Tide Water Oil up 5% on 1:1 bonus, Rs 200 per share dividend, stock split on Business Standard. The company announced 1:1 bonus issue, dividend of Rs 200 per share and stock split from Rs 5 to Rs 2.
Read more about SK Telecom to conduct spinoff in November for future chip technology on Business Standard. SK Telecom decided to spin off a new investment company in November to expand its foothold in new tech sectors, as well as conduct a 5-for-1 stock split aimed at improving shareholder value
Posted : 2021-06-10 16:35
Updated : 2021-06-10 16:36
SK Telecom (SKT) CEO Park Jung-ho speaks at the company s general shareholders meeting held in March at SKT s headquarters in central Seoul. / Courtesy of SKT
By Kim Bo-eun
SK Telecom (SKT) announced Thursday it would split its shares five-for-one, as well as conduct a horizontal spinoff. The decision by the country s top mobile carrier is interpreted as a means to address possible complaints from investors as well as to boost its stock price over the long term.
The stock split comes while the telecommunications company is splitting into two entities ― plans have been approved by the company s board. The spinoff would create two entities ― one being tentatively named SKT Investment. The spinoff will be effective from Nov. 1 this year, it said.
Shares of Tide Water Oil (India) continued their northward movement, surging 10 per cent on Thursday to hit a new high of Rs 10,449 on the BSE on Tuesday. The stock has rallied 74 per cent in the past four trading days after the company engaged in oil & marketing distribution business said it will consider a stock split and bonus issue in the forthcoming board meeting to be held on June 10, 2021.
With the past four days surge, the market price of Tide Water Oil (India) has more-than-doubled (up 133 per cent) in the past 15 days from the level of Rs 4,490.70 on May 10. In comparison, the S&P BSE Sensex was up 5 per cent during the same period.
Read more about Indo Borax zooms 37% in two days after firm announces stock split plan on Business Standard. Generally, a company plans to go for a stock split to make the shares more affordable for small retail investors and increase liquidity