SC Agrotech shares hit 52-week high ahead of board meeting
The company's board will meet on November 13 to consider a stock split, bonus issue, and a potential dividend.
Shares of SC Agrotech Limited rose nearly 5 per cent to reach a 52-week high during intraday trading on Thursday, according to Mint.
The company has scheduled a board of directors meeting for Friday, November 13, to discuss several corporate actions. These include a potential dividend, a stock split, and a bonus issue.
The board may consider splitting equity shares with a face value of ₹10 into shares with a face value of Re 1, representing a 10:1 ratio. Additionally, the board might consider issuing bonus shares at a ratio of up to 4:5, meaning four new shares for every five existing ones.
Regarding dividends, the board may review recommending a payout of up to 100 per cent of the applicable equity share face value. This remains subject to liquidity, legally distributable profits, and other requirements.
The board may also discuss increasing the authorised share capital and making necessary amendments to the company's Memorandum or Articles of Association. The record date for these potential actions has not yet been finalised.
The stock price reached an upper circuit limit of ₹46.58 on the BSE during Thursday's session. As of 12:40 pm, the market capitalisation of the agricultural products firm stood at ₹353.98 crore.