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The stock surged after the company informed the exchanges that its board of directors will meet on Wednesday, February 26, to consider the proposal of a stock split.
Along with the stock split, the board will also consider the proposal to issue a dividend to its shareholders.
Over the last five years, Vesuvius India has paid dividend worth ₹43 per share to its shareholders.This will be the first instance of the company considering a stock split, as the stock carries a face value of ₹10 per share currently.
The company has not issued bonus to its shareholders so far either.
Shares of Vesuvius India are down 40% from their peak of ₹5,999, which it had hit in September last year.
The stock is currently trading 3.4% higher at ₹3,720. The stock is down 18% so far this year.
