Tide Water Oil plunges 5%; Board declares stock split and bonus issue

The board approved a bonus issue of shares to the company's existing shareholders in the ratio of 1:1.

Tide Water Oil was lower by 5% at Rs. 24959. The board approved a proposal to split every one share of face value Rs 10 each into two shares of face value Rs 5 each, subject to shareholder approval. 

The board also gave its consent to a bonus issue of shares to the company's existing shareholders in the ratio of 1:1.

The scrip opened at Rs. 27560 and has touched a high and low of Rs. 27560 and Rs. 24959 respectively. So far 6041 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2285.66 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 33269 on 07-Jan-2016 and a 52 week low of Rs. 12251 on 23-Mar-2015. Last one week high and low of the scrip stood at Rs. 27995 and Rs. 22843 respectively.

The promoters holding in the company stood at 26.22 % while Institutions and Non-Institutions held 11.19 % and 62.6 % respectively.

The stock is currently trading below its 50 DMA.