Apollo Tyres Board approves stock split

Apollo Tyres Ltd has announced that the Board of Directors of the Company at its meeting held on May 01, 2007, inter alia, has approved the following:

- Recommendation to the members of the Company for their approval in the ensuing annual general meeting of the Company for:

1. splitting the equity shares of the Company from its face value of Rs 10/- each to Rs 1/- each.

2. increasing the limit of investment by Foreign Institutional Investors (FIIs) upto 30% of the paid up equity share capital of the Company.

Source : Equity Bulls

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