The company in March this year announced a stock split in in the ratio of 1:10. It means that each equity shares of Rs 10 face value was split into 10 equity shares of Re 1.
Shares of Ok Play surged as much as 15 per cent even as the market remained volatile on Friday. The counter opened at Rs 15.24 and gained further to touch the intra-day high of Rs 17.25 – this is a gain of around 15.38 per cent from the previous close of Rs 14.95 on the BSE.
The stock of OK Play, which has a market cap of Rs 475 crore, has a 52-week high of Rs 21.50 and a 52-week low of Rs 10.
The stock has give a positive return of over 45 per cent in one year and around 473 per cent in two years.
The company in March this year announced a stock split in in the ratio of 1:10. It means that each equity shares of Rs 10 face value was split into 10 equity shares of Re 1.
A split is a corporate action which allows company to split the face value of equities in a certain ratio. The rationale behind the split is to make the stock cheap and affordable to small traders.
Meanwhile, equity benchmark indices Sensex and Nifty began the trade on a positive note on Friday but later pared gains to quote lower amid a muted trend in global markets and selling in IT stocks.
Market analysts said investors are awaiting cues from the US Federal Reserve Chair Jerome Powell’s comments at Jackson Hole Symposium.
The 30-share BSE Sensex opened 37.32 points or 0.05 per cent higher at 81,090.51 points. The NSE Nifty gained 18.25 points to 24,829.75.
Later, both the benchmark indices pared their early gains and were trading in the negative territory. The BSE benchmark quoted 117.82 points or 0.15 per cent lower at 80,935.37 and the Nifty traded at 24,776.95, down by 34.55 points.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)