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Business News/ Markets / Stock Markets/  Brewery stock Som Distilleries jump 5% as board declares stock split in the ratio 1:1 today. Details here
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Brewery stock Som Distilleries jump 5% as board declares stock split in the ratio 1:1 today. Details here

Som Distilleries stock split history: In 2020, the brewery stock traded ex-split in a 1:2 ratio on 15th October 2020

Stock market today: Som Distilleries share price has risen from ₹262.75 to ₹294.50 apiece on NSE, recording a nearly 12% rally in two straight sessions.Premium
Stock market today: Som Distilleries share price has risen from 262.75 to 294.50 apiece on NSE, recording a nearly 12% rally in two straight sessions.

Stock market today: Shares of Som Distilleries and Breweries Ltd have been in an uptrend for the last two straight sessions. The brewery stock was in focus today as the board of directors of the company approved the stock split proposal in its meeting scheduled today. 

The board considered sub-division of each of the equity share capital of face value of 5 each into equivalent number of equity shares having a face value of 2 each, the company said in an exchange filing. Som Distilleries share price closed 4.07% higher at 292.50 apiece on the BSE today.

The brewery stock ended at 262.75 on Thursday last week and witnessed strong buying interest on Monday. Dalal Street bulls continue to bet high on Som Distilleries share price rally on Tuesday.

Som Distilleries share price today opened upside and went on to touch an intraday high of 294.50 apiece on NSE, recording to the tune of 5 percent intraday rise against its Monday close of 281.05 per share. In one of its exchange filings at the Indian stock market exchanges, the brewery company informed that the board of directors of the company will be considering the stock split proposal in its meeting scheduled on 2nd April 2024. If the company board approves the stock split proposal, this would be the second stock split of the company after a gap of nearly four years.

Som Distilleries stock split details

Som Distilleries informed Indian stock market exchanges about the stock split proposal saying, "Pursuant to Regulation 29 and other relevant Regulations, if any, of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, please note that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, the 2nd day of April 2024 at the Corporate Office of the Company at 23, Zone II, M.P. Nagar, Bhopal, Madhya Pradesh – 462011 inter- alia to transact the following business: 1] Sub-division/ split of existing equity shares of the Company having face value of Rs.5/- each, fully paid up; 2] Alteration of Authorised Share Capital clause of Memorandum of Association the Company; 3] Obtaining Shareholders’ approval for Sub-division/ Split of equity shares and alteration of Authorised Share Capital of Memorandum of Association and to fix of day, date, time & venue of the proposed Extra Ordinary General Meeting and approve the final notice of the EGM of the Company; and 4] Any other matter with the approval of the Chairperson."

Also Read: Buy or sell: JTL Industries shares jump 19% in two days after FY24 biz update

Som Distilleries stock split history

If the board of directors of Som Distilleries and Breweries Ltd approves the stock split proposal, this would be the second stock subdivision of Som Distilleries shares after a gap of around four years. Last time, when the Som Distilleries share price traded ex-split was on 15th October 2020. In 2020, Som Distilleries board declared a stock split in a 1:2 ratio by subdividing the face value of shares from 10 per equity share to 5 per equity share.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Asit Manohar
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Published: 02 Apr 2024, 12:47 PM IST
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