The share price of Nestle India increased by 4.46% to Rs 25,442.75 on the BSE today. Nestle India’s market value increased to Rs 2.43 lakh crore.
OVERVIEW
The company's board of directors had declared a 1:10 stock split.
This is the company's first-ever stock split.
Nestle India's share price will drop to a tenth of its current value as a result of the stock split.
In early trading on Tuesday, shares of food and beverage giant Nestle India Ltd. surged by more than 4% to reach a new high. This came after the company announced that Friday, January 5, 2024, would be the record date for determining equity shareholders’ entitlements in the event that existing equity shares were subdivided or split. The company’s board of directors had declared a 1:10 stock split.
This is the company’s first-ever stock split. Nestle India’s share price will drop to a tenth of its current value as a result of the stock split. The division of shares will improve liquidity at the counter and lower the cost of the scrip for individual investors.
Nestle India declared an interim dividend of Rs 140 for the third quarter on October 19.
