Punjab National Bank, JK Tyre turn ex-split today
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Shares in Punjab National Bank and JK Tyre and Industries were trading higher by up to 8% after both the stock turned ex-stock split today.
JK Tyre and Industries has surged 8% to Rs 129, while Punjab National Bank gained nearly 4% to Rs 225 in early morning deals on the BSE.
The state-owned lender Punjab National Bank and tyre manufacturer JK Tyre and Industries had subdivided the face value of their equity shares to Rs 2 from Rs 10.
Both these companies has fixed December 19, 2014 as Record Date for the purpose of ascertaining the eligibility of shareholders to receive 5 equity shares of nominal value of Rs 2 each in lieu of 1 equity share of nominal value of Rs 10 each on account of reduction/split in face value of their equity shares.
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