shares jumped 12.29 per cent to ₹116.23 on Thursday morning, hitting a fresh 52-week high of ₹122.70, as investors anticipated the implementation of corporate actions approved by the board earlier this month.
The Ahmedabad-based company’s board had recommended a 10:1 stock split on October 18, subdividing each equity share from a face value of ₹10 to ₹1. Additionally, the board proposed a 1:1 bonus issue, which would double shareholders’ holdings post-split. The company currently has 2.18 crore paid-up equity shares.
The stock opened at ₹111 against the previous close of ₹103.51 and witnessed strong trading activity with 6.39 lakh shares changing hands, valuing transactions at ₹7.41 crore. Deliverable quantity stood at nearly 60 per cent, indicating genuine investor interest rather than speculative trading.
These proposals require shareholder approval at an extraordinary general meeting scheduled for November 13, 2025. The company also plans to increase its authorized share capital from ₹25 crore to ₹45 crore to accommodate the bonus issue.
Management cited enhanced liquidity and greater accessibility for small investors as rationale for the split. The company has ₹44.35 crore in securities premium and ₹15.19 crore in free reserves as of March 31, 2025, sufficient to fund the ₹21.84 crore required for the bonus issue.
The stock’s market capitalisation stood at ₹253.21 crore, with implementation of both actions expected within three months of shareholder approval.