CESC approves stock split proposal:

CESC

CESC share price touched a 52-week high of Rs 819.15, gaining 6 percent in the early trade on June 17, a day after the company posted an improved set of numbers of the March quarter and approved a proposal for sub-division of equity shares.

The company reported a 13.5 percent jump in its consolidated net profit to Rs 429 crore in the quarter ended March 2021 against Rs 378 crore in the year-ago period. Its revenue jumped to Rs 2,890 crore from Rs 2,621 crore, YoY.

Subject to the approval of the shareholders, the board approved a proposal for sub-dividing the existing equity share of a nominal value of Rs 10 each into 10 equity shares of a nominal value of Re 1 each.

News Source: Moneycontrol

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