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“The board recommended the Split/Sub-division of Ordinary Equity shares of the Company from Face Value of Rs.10/- each to Face Value of Rs.5/- each, subject to the approval of Members of the Company in the Extra Ordinary General Meeting. The record date for the sub-division of shares shall be intimated in due course,” said the company’s filing with the exchange.
Sub-division or stock split is mulled by listed entities to boost liquidity in their equity shares and render them affordable for investors.
Lancer Containers is a multibagger stock with year-to-date returns of 119%. On a 1-year basis, the stock has yielded 188% returns.
Ahead of the stock split announcement, the stock ended with a cut of over 3% at Rs 391 per share on the NSE.
Commanding a market capitalisation of Rs 1,178 crore, Lancer Container is a shipping agency providing liner services to Asia, Africa, Latin America etc. The company also offers shipping and shipping-related services like project & freight forwarding, container trading & leading.
