Tata Steel to consider proposal to split equity shares on May 3
NEW DELHI (Reuters) – The board of Tata Metal Ltd will on Could 3 think about a proposal to separate the inventory and in addition suggest a dividend, the Indian metal maker mentioned in a press release on Sunday.
With out specifying the ratio of the inventory cut up, it mentioned the assembly on Could 3 would think about a sub-division of the shares with a nominal worth of 10 Indian rupees every.
The cut up can be topic to regulatory and statutory approvals.
On Could 3, the corporate will even announce outcomes for the quarter ended March 31, the corporate mentioned.
Tata Metal closed at 1,319.5 rupees a share on Wednesday. Indian fairness markets had been closed on Thursday and Friday.
(Reporting by Aftab Ahmed; modifying by Barbara Lewis)
