TD Power spurts after board approves stock split

TD Power Systems surged 6.66% to Rs 613.15 after the companys board approved 5-for-1 stock split.

August 30, 2022 2:48 IST | capital market
The companys board on Tuesday (30 August) approved sub-division of existing one equity share having face value of Rs 10 each into five equity shares having face value of Rs 2 each, subject to the approval of shareholders. The record date will be decided post ensuing annual general meeting, the company said in a statement. TD Power Systems is one of the leading manufacturers of AC generators in the world with products in the output range of 1 MW to 200 MW for prime movers, such as steam turbines, gas turbines, hydro turbines, diesel engines, gas and wind turbines It also manufactures special application generators for geo thermal and solar thermal applications. On a consolidated basis, net profit of TD Power Systems surged 107% to Rs 21.49 crore on 25.39% increase in net sales to Rs 204.54 crore in Q1 June 2022 over Q1 June 2021. Powered by Capital Market - Live News

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