BackHavells India plans stock split
The company's board of directors will meet on 30 June to consider the plan for approval
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New Delhi: Electrical goods manufacturer Havells India Ltd plans to split its stock, for which it will seek board approval next week.
“A meeting of the board of directors of the company will be held on 30 June 2014, to consider and approve the sub-division of the nominal value of equity shares of the company," Havells informed the Bombay Stock Exchange.
The company however did not elaborate on the plans. When contacted, a Havells spokesperson declined to comment.
Havells India’s scrip closed at ₹ 1,103.45, down 0.01% on the BSE.
The $1.3 billion (about ₹ 7,824 crore) company manufactures industrial and domestic circuit protection switchgear, cables and wires, motors, fans, power capacitors and compact fluorescent lamps (CFLs).
It also makes luminaries for domestic, commercial and industrial applications, modular switches, water heaters and domestic appliances.
Havells owns brands such as Crabtree, Sylvania, Concord, Luminance and Standard has 91 branches spread over 50 countries across the world. It has 14 manufacturing units in India located at Haridwar, Baddi, Noida, Faridabad, Alwar, Neemrana and six in Europe, Latin America and Africa.
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