Alkyl Amines Chemicals zoomed nearly 12 per cent in a subdued market after the fertiliser company announced plans to sub-divide the equity shares of the company. Companies generally split their shares to make them more affordable for retail investors and increase liquidity.
“The board of directors of the company are scheduled to meet on February 2 to consider the proposal of sub-division of equity shares of the company from the face value of Rs 5 to a lower denomination,” the company said in a BSE filing.
The board of Alkyl Amines Chemicals will also consider a proposal to set up new projects and declaration of interim dividend for the financial year 2020-21.
The BSE Sensex was trading at 48,056.93, lower by 119.74 points and the NSE Nifty was at 14,088.55, down 44.95 points or 0.32 per cent at the time.