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Rolex Rings announces 1:10 stock split
Rolex Rings just announced a 1:10 stock split—so each ₹10 share will soon be split into 10 shares worth ₹1 each.
The move, decided on September 4, still needs a green light from shareholders and regulators at the upcoming 23rd AGM.
The exact date for the split isn't out yet.
Splitting the stock makes it way cheaper to buy in
Splitting the stock makes it way cheaper to buy in, especially for retail investors.
Even though the company's overall value doesn't change, this could help bring in fresh interest and make trading more active.
Board also approved salary payments to a promoter's relative
Yes—the board also signed off on salary payments to a promoter's relative (all above board and as per regulations), pending shareholder approval.
Everything was wrapped up quickly and transparently, with details posted online right after.