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India Nippon Electricals Ltd Board declare Interim Dividend & approve Sub-division of equity shares

Posted On: 2018-01-29 20:32:27


The Board of Directors of India Nippon Electricals Ltd at its meeting held on January 29, 2018, has decided to declare an interim dividend of Rs. 6/- (Rupees six only) per fully paid up equity share of Rs. 10 each, for the year April 2017-March 2018. On 11310712 equity shares, this will absorb an amount of Rs. 6,78,64,272.

The Board of Directors decided to sub-divide the face value of the equity shares of the company which is currently Rs. 10 (Rupees ten) each into equity shares of face value of Rs. 5/- (Rupees five only) and make alteration to the capital clause V in the Memorandum of Association of the Company and alternation to Article 3 of the Articles of Association of the Company. The Board decided to take the approval of shareholders through postal ballot.

Shares of INDIA NIPPON ELECTRICALS LTD. was last trading in BSE at Rs.1159 as compared to the previous close of Rs. 1161.15. The total number of shares traded during the day was 4561 in over 400 trades.

The stock hit an intraday high of Rs. 1198 and intraday low of 1150. The net turnover during the day was Rs. 5353237.


Source: Equity Bulls

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