Shares of Tiger Logistics (India) Ltd climbed over 8% in trade Tuesday after the company announced that its board has approved a stock split in the ratio of 1:10. This means that one share with a face value of ₹10 would be split into 10 shares having face value of Re 1 each.
However, the proposal for the stock split is subject to the approval of shareholders and such other approvals as may be required. In this regard, the record date for such sub-division/ split shall be intimated to the stock exchange in due course, the company said in a filing to the exchanges.
Following the announcement, shares of the company rallied to hit an all-time high of ₹868 on Tuesday, with a total market capitalization of more than ₹875 crore.
Shares of Tiger Logistics have rallied about 112% in the last six months, while the stock has gained 15% since the beginning of this year. The scrip settled at ₹838.50 in today's trading session.
Tiger Logistics (India) is an international logistics player known for its expertise in handling the import and export of cargo and projects. It has a very strong base of approximately 50 agents and partners all over the world. Its competitive edge lies in its asset light model and providing a one-stop solution to customers for international trades.
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