Stock split: Real Estate stock divides one share into five; shares under pressure

Ajmera Realty & Infra India Ltd on Thursday, November 6, announced that the board of the company has approved a stock split, alongside its March quarter results.

The board has approved the stock split in the ratio of 1:5, which means that one equity share of the company, which currently carries a face value of ₹10, will now turn into five equity shares with a face value of ₹2 each.

Record date for the said stock split will be intimated in due course, the company said in a regulatory filing.

Following the announcement, shares of Ajmera Realty & Infra India Ltd. are trading about 4% lower at ₹1,016. The stock is down 10% on a year-to-date basis.