Nuvama wealth announces interim dividend and stock split. (Photo source: Freepik) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Nuvama Wealth Management Ltd.'s board of directors has approved a share split in the ratio of 1:5,, as per an exchange filing on Tuesday.

In accordance with this, an equity share with the face value of Rs 10, each fully paid-up, will be subdivided into five shares with a face value of Rs 2 each.

A stock split is a corporate action where a company increases the number of outstanding shares by reducing the face value per share. This typically enhances liquidity as the stock price adjusts accordingly.

This implies that while the value of stocks that a shareholder has does not change, the number of shares they hold will increase. Record date for

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