HMPL to consider stock split soon, check out key details here

In Asian markets, Seoul, Tokyo and Shanghai were down, while Hong Kong was trading in positive territory.

Stock Market News: Shares of Hazoor Multi Projects Limited (HMPL) are in focus on Monday as the company informed the bourses that its board of directors will consider splitting of shares. “A meeting of the board of directors of the company is scheduled to be held on Friday, 26th July, 2024 at 11:30 am to transact the following major business – To consider sub-division/split of shares of the company, To consider addition/amendment/change in the object clause of the memorandum of association of the company, and others,” the company said in an exchange filing.

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The stock opened at Rs 328 against the previous close of Rs 326.45. It rallied further to touch a high of Rs 340, a gain of 3.91 per cent over the previous close on the BSE. HMPL shares have given a positive return of 161 per cent in one year and 895 per cent in two years. However, the stock has given a negative return of 7.05 per cent in six months.

Meanwhile, the 30-share BSE Sensex index fell 504 points to 80,100.65 in early trade. The NSE Nifty shed 168.6 points to 24,362.30. In Asian markets, Seoul, Tokyo and Shanghai registered declines while Hong Kong posted gains.

US markets ended lower on Friday. Brent crude, the global benchmark for oil, rose 0.67 percent to $83.18 per barrel. Foreign institutional investors (FIIs) bought shares worth Rs 1,506.12 billion on Friday, according to exchange data.

The benchmark BSE index hit a new all-time high of 81,587.76 in Friday’s early session but failed to sustain its winning streak and fell 738.81 points, or 0.91 per cent, to settle below the 81,000 mark at 80,604.65.

The NSE Nifty fell 269.95 points, or 1.09 per cent, to end at 24,530.90 after hitting a new high of 24,854.80 on Friday’s opening.

(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.