Stock split: Nandan Denim to consider proposal to split its shares today

The board of directors of Nandan Denim Ltd., whose shares have risen 126% over the past year, will consider a stock split at its meeting on Monday, June 17.

Nandan Denim had informed the stock exchanges about the June 6 board meeting.

If approved, it will be the company’s first-ever stock split.

Earlier in 2022, Nandan Denim had issued two bonus shares for every share held.

Typically, a company considers a stock split to increase its outstanding shares and also improve transaction liquidity by making the shares more affordable to its shareholders.

The record date for the stock split has not yet been determined.

Nandan Denim is engaged in the manufacturing of denim fabrics, shirting fabrics and yarns.

Shares of Nandan Denim fell 0.63% to ₹43.85 on June 14. The stock has gained about 57% so far this year. Over the past 12 months, the stock is up more than 120%.