Stock split 2024: Nestle India share price in focus as stock trades ex split in 1:10 ratio

Nestle India's share price will be under the radar of investors and observers as the stock is going to trade ex split today. The board of directors of Nestle India Limited has fixed 5th January 2024 as the record date for the subdivision of stocks in a 1:10 ratio. This means one Nestle India share having a face value of 10 per equity share will be subdivided into ten shares with a face value of Re 1 per equity share.

Nestle India stock split record date Nestle India informed Indian bourses about the stock split record date saying, “Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Company has fixed Friday, 5th January 2024 as the “Record Date" for determining entitlement of Equity Shareholders for the purpose of sub division/ split of existing Equity Shares of the Company, such that 1 (one) equity share having face value of Rs.

10/ (Rupees ten only) each, fully paid up, will be sub divided into 10 (ten) equity shares having face value of Re. 1/ (Rupee one only) each, fully paid up, ranking pari passu in all respects which was approved by the Equity Shareholders through Postal Ballot on 8th December 2023, as already intimated to the Stock Exchanges vide our letter no.

PKR:SG: 84:23 dated 8th December 2023." Nestle India stock split 2024 This move of the board of Nestle India Limited will make India's sixth highest price stock more affordable. The move may also lead to a rise in trade volume as Nestle India's share price will come down towards 2,700 apiece levels after the stock split in a 1:10 ratio.

Nestle India's share price ended on Thursday at 27,150 per share level on the NSE. In Nestle India's Q2FY24 results, the company experienced a notable 36 per cent year on year increase in profits, reaching 908 crore. Simultaneously, its revenues saw a growth of 9.6 per cent, totaling 5036 crore.

During the September 2023 quarter, Foreign Institutional Investors (FIIs) reduced their stake in the company from 12.38 per cent in the preceding June quarter to 12.1 per cent. Conversely, Domestic Institutional Investors (DIIs) increased their ownership from 9.05 per cent to 9.32 per cent over the same period.

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