Maruti Infrastructure to consider stock split & issuance of bonus shares

6 Jun 2024 , 11:51 AM

Maruti Infrastructure’s stock surged to a 52-week high of ₹213.90 during opening trade on June 5 following announcements that its board will consider stock split and issuance of bonus shares.

At the time of writing, shares of Maruti Infrastructure were trading at ₹212.25 which is a 13% increase than the previous close. The stock has gained 95% in the last one year, and has gained 34% since the beginning of the year.

A board meeting is scheduled for June 22, 2024, to discuss the sub-division/split of equity shares and the proposal for issuing bonus shares.

Additionally, the board will deliberate on increasing the authorized share capital and making alterations to the company’s memorandum of association. Trading in the company’s securities will be suspended for designated persons and their immediate relatives from June 5, 2024, until 48 hours after the board meeting concludes.

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