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HLL board meet on Feb 23 to discuss share split

The Board of Directors of Hindustan Lever Limited will discuss the issue of split in its shares at a board meeting to be held on February 23.

HLL informed the Bombay Stock Exchange that the company's board meeting on February 23 will discuss sub-dividing company's existing equity shares into 10 shares of rupee 1 each.

HLL will be the fourth company after Wipro, Zee Telefilms and Infosys Technologies splitting its shares.

Reacting to the developments regarding the split of shares, the HLL scrip closed at Rs 2,714 on the NSE, registering a gain of Rs 201 from the previous close of Rs 2,513.

The scrip also shot up by Rs 199 at Rs 2,689 from Friday's close of Rs 2,490. At the BSE, Rs 1.62 billion changed hands today.

Marketmen attributed the heavy gain in the HLL scrip to the company's likely decision to split in its shares in the board meeting scheduled to be held on February 23.

It may be mentioned that HLL had the highest weightage in the 30-share of BSE Sensex.

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