The Stock that didn’t Split

Hat Tip: Safir

It is very rare to see a Promoter vote against his own Company’s Board resolutions.

This astonishing sighting happened in the case of Jyoti Resins & Adhesives Ltd.

On 29 Aug,2016, the Board recommended a stock split of the shares from a FV of Rs.10 per share to FV of Rs.1 per share

However in the AGM held on 30 Sept,2016, the Promoters voted against the resolution thereby blocking it.

Hmm…maybe such resolutions should have waited till the Shraadh period got over !

One reply on “The Stock that didn’t Split”

A Guru recommends it at 55, it goes to 175 and back to 75 and jumps to 125 again…. what else you need? Satta Satta! Poora Matka…

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