The shares of newly listed Waterways Leisure Tourism rose nearly 4 per cent during intraday trading on Thursday despite a decline in the domestic equity market, ending a four-day decline. This uptick was fueled after the company announced August 26 as the record date for its upcoming stock split. The stock started the session in the green at Rs 833 as compared to the last closing of Rs 825.50. The stock escalated further to hit an intraday high at Rs 855.95, up 3.6 per cent from the last closing.
Meanwhile, it's 52 week high and low values stood at Rs 925.65 and Rs 623.10, respectively.
Stock Split 1:10
In an exchange filing, the company said that its board and shareholders have approved a 1:10 stock split, which will subdivide each equity share with a face value of Rs 10 into ten shares with a face value of Rs 1. August 26 will be the record date for the stock split.
This corporate action aims to enhance market liquidity and make the shares more accessible to retail investors. While the total paid-up share capital remains at Rs 72.4 crore, the number of equity shares will increase tenfold to 72,39,45,430.
Stock Makes Debut In July
Since its market debut on July 1 at an issue price of Rs 808, the stock has experienced significant volatility, hitting a low of Rs 623.30 on its listing day before reaching a record high of Rs 925.05 later that month. At the current price of Rs 848.55, the stock maintains a 5 per cent gain over its initial offering price.
Stock Market Today
Benchmark indices ended mixed with the Sensex rising nearly 114 points and the Nifty sliding over 40 points, as elevated crude prices and geopolitical uncertainty made investors cautious.
BSE Sensex jumped 113.61 points, or 0.15 per cent, to close at 78,079.96. Nifty closed down 40.10 points, or 0.16 per cent, to end at 24,395.85.