Wednesday, Sept 18 2024

Lux Industries announces 5-for-1 stock split

By A Mystery Man Writer

Innerwear manufacturer, Lux Industries has announced a stock split of the face value of Rs. 10 each into Rs. 2 each per equity share in a 5-for-1 stock split, in compliance with applicable provisions of the Companies Act, and other applicable provisions. According to the company's chairman Ashok Kumar Todi, the stock split, effective June 6 this year, will reduce per unit price and increase deliverable quantity, thereby enhancing buying capacity coupled with liquidity. It will also strengthen share price and increase volumes, both in number as well as value. However, this will not affect the rights of the shareholders or the taxability. "This year we have witnessed a turnover of Rs. 940.86 crore which ensured a top line growth by 3.51 per cent. With this stock split we are looking at a renewed investor sentiment and achieve greater liquidity for the stock. We believe this is the right time to give more investors that opportunity to be a part of the success story", he said.Upon the comp
Innerwear manufacturer, Lux Industries has announced a stock split of the face value of Rs. 10 each into Rs. 2 each per equity share in a 5-for-1 stock split, in compliance with applicable provisions of the Companies Act, and other applicable provisions. According to the company's chairman Ashok Kumar Todi, the stock split, effective June 6 this year, will reduce per unit price and increase deliverable quantity, thereby enhancing buying capacity coupled with liquidity. It will also strengthen share price and increase volumes, both in number as well as value. However, this will not affect the rights of the shareholders or the taxability. This year we have witnessed a turnover of Rs. 940.86 crore which ensured a top line growth by 3.51 per cent. With this stock split we are looking at a renewed investor sentiment and achieve greater liquidity for the stock. We believe this is the right time to give more investors that opportunity to be a part of the success story, he said.Upon the comp