HDFC Stock Split
The country’s largest mortgage lender, Housing Development Finance Corporation (HDFC), on Wednesday said it may consider a sub-division of shares at its forthcoming board meet. If approved, this would be the first stock split of HDFC shares in over one decade. The equity shares of the corporation with face value of Rs 100 each were sub-divided into equity shares with face value of Rs 10 each with effect from August 25, 1999. The company’s board of directors is meeting on May 3, 2010 and among other issues it “will also consider a proposal to sub- divide the equity shares of Rs 10 each of the corporation”.
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[...] HDFC stock split announcement last week, HDFC has announced that the board of directors recommended sub-division of [...]