Sunil Hitech Engineers to consider stock split; shares up 8%

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Moneycontrol BureauShares of Sunil Hitech Engineers rose nearly 8 percent intraday Tuesday as it is going to consider the sub division of its equity shares.The board meeting of company will be held on August 10, 2016, to consider and approve the unaudited financial result for the quarter ended on June 30, 2016.The board will also consider the sub-division of equity shares of face value of Rs 10 each into 10 equity shares of the face value of Re 1 each.It will take on account, the allotment of convertible preference shares on private placement basis and allotment of equity shares to qualified institutional buyers (QIB) and increase in authorized share capital of the Company.At 11:40 hrs Sunil Hitech Engineers was quoting at Rs 189, up Rs 10.80, or 6.06 percent on the BSE.Posted by Rakesh Patil