Gulshan Polyols rises 2% on stock split approval

Moneycontrol BureauShare price of Gulshan Polyols rose 2.2 percent intraday Monday on the back of approval of sub-division of equity shares.The company at its meeting held on November 05, has approved the split of its equity shares from Rs 5 to Re 1 per share.The board has also declared an interim dividend at 40 percent (Rs 2 per equity share) to the equity shareholders the company for the FY 2016-17.The company's Q2 (Aug-Sept) net profit has declined to Rs 5.75 crore from Rs 6.68 crore, for the same period of last fiscal.At 11:54 hrs Gulshan Polyols was quoting at Rs 395.10, up Rs 4.75, or 1.22 percent on the BSE.Posted by Rakesh Patil