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Sun Pharma In The News

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Sun Pharma fixes Nov 26 as record date for stock splitm

Drug-maker Sun Pharmaceutical today said it has fixed November 26 as the record date for its proposed stock split, under which shareholders will get five shares for every equity held by them presently. The company has fixed November 26, 2010, as the record date for ascertaining the shareholders that would be entitled to receive five equity shares with a nominal face value of Re 1 each for every equity of Rs 5 face value held by them, Sun Pharma said in a filing to the Bombay Stock Exchange (BSE). The company has already received approval from shareholders for splitting every equity share of Rs 5 face value into five shares of Re 1 face value, translating into a stock split ratio of 1:5. Shares of Sun Pharma were being quoted at Rs 2,334 on the BSE in late afternoon trade today, up 0.64 per cent from the previous close.