Servotech Power Systems Shares Decline 5% Following Stock Split Announcement

11 Jul 2023 , 11:49 AM

Servotech Power Systems Ltd has witnessed a 5 % decline in its shares following the announcement of a stock split. The company has set July 28 as the record date for the subdivision (split) of its equity shares. The company has seen significant growth, delivering returns of over 1,000 % in the past year.

This stock split announcement marks the third time this year that Servotech Power has undertaken such a measure. In May, the company announced a 1:2 sub-division (split) of its equity shares to enhance liquidity and encourage wider participation in the stock market.

In February, the company’s shares experienced an upper circuit of 5 percent on the NSE after undergoing a split in a ratio of 5:1.

Servotech Power Systems is engaged in the manufacturing, procurement, and distribution of advanced solar products, medical devices, and energy-efficient lighting solutions. Its competitors include Siemens, BHEL, Suzlon Energy, Hitachi, and CG Power.

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