The shares of Info Edge gained nearly 3 percent in morning trade on January 30 after the parent company of Naukri announced that its board is set to consider a split of its existing equity shares. The Sanjiv Bhikchandani-led company's board is set to consider the stock split on February 5.
"We hereby inform you that at the said meeting, the Board of Directors will also consider the proposal for alteration in the share capital of the Company by way of sub-division/ split of the existing equity Shares of the face value Rs. 10/- each, fully paid-up, in such manner as may be determined by the Board of Directors subject to approval of the shareholders of the Company and any regulatory/statutory approvals, as may be required under applicable law," the company said in an exchange filing released on January 30.
The company further said that its board will also approve its results for the quarter which ended on December 31 on February 5.
Also read: Our LIVE blog on Q3 results
The shares of the company were trading at Rs 7,654.45 apiece, as seen at 11.37 am on January 30. The shares are currently over 57 percent higher than the 52-week-low record of Rs 4,871 per share. The stock however is still down around 17 percent from its 52-week-high record of Rs 9,195.
Notably, during the December quarter, Info Edge had filed a FIR against Rahul Yadav, the founder of its portfolio company 4B Networks, and a few others, alleging misuse of funds. It earlier said that it had suffered a total loss of Rs 532 crore from writing off its investment in 4B Networks.
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