1 Share split determines the recording date

The 30-share BSE Sensex jumped 512.68 points to a fresh life-high of 79,186.93 after falling in early trade on buying by blue-chip Reliance Industries.

Share division: The Management Board of Cellecor Gadgets approved the proposal to split shares in a 10:1 ratio. The company said it had also set the date for establishing the right to this corporate share. Division/division of 1 (one) equity share of the company with a face value of Rs. 10/- each for 10 (ten) equity shares of the company having a face value of Re.1/- each, subject to shareholder approval and such other approvals as may be required,” the company said in a stock exchange filing.

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After the share split, the new face value of the share will be Re 1 as the current face value of each share is Rs 10. The company has adopted August 9 as the record date for the right to dividend.

“The Board has fixed Friday, August 9, 2024, as the Record Date for the purpose of determining whether Shareholders qualify for the proposed distribution/distribution of the nominal value of the company’s Equity Shares,” the filing reads.

Meanwhile, benchmark indices rose on Thursday, with Sensex crossing the all-time high of 79,000 and Nifty touching 24,000 for the first time in history on the back of buying in blue-chip stocks.

The 30-share BSE Sensex jumped 512.68 points to a new life-high of 79,186.93 after falling in early trade on buying by blue-chip Reliance Industries. The benchmark Nifty also rebounded, rising 146.45 points to a new all-time high of 24,015.25.

Among the 30 Sensex companies, UltraTech Cement, JSW Steel, Infosys, Tech Mahindra, Tata Consultancy Services and Reliance Industries were the top gainers. Laggards included Larsen & Toubro, Maruti, Adani Ports and Mahindra & Mahindra.

“The market will remain bullish in the near term despite valuation concerns, and sustained momentum could take the Sensex to 80,000 levels. The healthy trend in the market is that the rally is currently largely led by strong large-cap companies in sectors such as banking and telecom. RIL, which was not part of the rally till yesterday, has joined the bull run, the rally has the strength to continue,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

(Reservation: The information contained in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.)