HAL defers decision on share split; stock ends lower

The board has deferred the proposal of sub-division of shares.

Sep 21, 2021 05:09 IST India Infoline News Service

Hindustan Aeronautics
Hindustan Aeronautics Ltd (HAL) said in the regulatory filing today that the board has deferred the proposal of sub-division of shares. 

“This is to inform that the Board of Directors of the Company in its meeting held today, i.e. 21st September, 2021, has deferred the proposal of sub-division of shares,” the company said in the filing.

Meanwhile, on Monday the company has clarified on news item appeared in the www.cnbctv18.com dated September 14, 2021 captioned "Hindustan Aeronautics Limited OFS likely this month"

“In this connection, we would like to inform that the Company has not received any information from the Government of India, being promoter of the Company, for selling its shares through OFS mechanism,” HAL said in the filing.

“In case, if any information or direction is received by the Company, the same shall be intimated to both the Stock Exchanges in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015,” HAL said.

“It may be noted that since, OFS has to be made directly by the Selling Shareholder to the public through Stock Exchange Mechanism, the Company has no active role to play except to make certain intimations to the Stock Exchanges under various SEBI Regulations on receipt of information from the Selling Shareholders,” the company said.

Stock view:

Hindustan Aeronautics Ltd ended at Rs1,359.30 down by Rs16.65 or 1.21% from its previous closing of Rs1,375.95 on the BSE. The scrip opened at Rs1,400 and touched a high and low of Rs1,425.65 and Rs1,340.45 respectively.

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