Prakash Steel jumps on stock split

Prakash Steelage is up in the green at Rs.131, over 4.5% higher with intra day high at Rs.132.50.

Punters on the counter are happy that the stock is going in for a stock split, for which a Board meet is scheduled for 29^th of Dec. The current face value of the stock is Rs.10/share.

Stock split means more shares but unlike a bonus where you get more new shares – here the same old shares become more. What it gives is some more liquidity. But with 25.68% already in public float, surely liquidity is no attraction.