Kajaria Ceramics shares rose nearly 5 per cent to fresh 52-week high of Rs 1,155 on Thursday, after the ceramic tiles manufacturer said it is considering a stock split.
"A meeting of the board of directors of the company will be held on June 16, 2016, to consider and approve the sub-division of the shares from Rs. 2 each fully paid up to Re. 1 each fully paid up," Kajaria Ceramics said in a release to Bombay Stock Exchange.
Stock split reduces the market price of a stock and makes it more affordable for retail investors. This results in increased volume in a stock, traders say.
Kajaria Ceramics shares closed 4.18 per cent higher at Rs 1,151.25 apiece compared to 0.48 per cent gain in the broader Sensex.
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