V Guard share price has moved up by 8% to Rs 1,847.70, also its record one year high on the NSE, ahead of the stock split in the ratio of 10:1 on Tuesday, August 30, 2016.
At the meeting of the board of directors of V-Guard Industries on June 16, 2016, the stock split was approved to be done in the ratio of 1:10. In simple words, one equity share of face value of Rs 10 each will be split into ten equity shares of face value of Re 1 each. August 31 is the record date set by the company date for the purpose of sub-division of equity shares. The stock will turn ex-stock split on August 30. The news led V Guard share price close at Rs. 1,780.40.
The grounds for the stock split are to perk up the liquidity of the shares in the market and make the shares more affordable to small investors.Since June 15, the stock has outperformed the market by rising 41% from Rs 1,309, as compared to 4% rise in the S&P BSE Sensex. In the past six months, it appreciated more than 100% from Rs 798, against 22% rise in the benchmark index.
V Guard share price was up by 6% at Rs 1,816 on the BSE, as compared to 0.3% rise in the Sensex. So far, a total of 1,65,135 shares changed hands on the counter of NSE today. Dynamic Levels have identified V Guard among top 500 performing shares for the quarter. For details on the stock, visit V Guard share price history page of the website.
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