IRB Infra up 6%, nears 52-week high as stock trades ex-split in 1:10 ratio

Meanwhile, in past two trading days, the stock has surged 12 per cent after the company emerged as a preferred bidder for Rs 2,132 crore built-operate-transfer (BOT) project in Gujarat.

Shares of IRB Infrastructure rallied 6 per cent to Rs 31.60 on the BSE in Wednesday’s intra-day trade after turning ex-date for stock split in the ratio of 1:10. The stock was quoting close to its 52-week high of Rs 32.90, touched on December 14, 2022.

The company had fixed February 22, 2023 as the ‘Record Date’ to determine eligibility of shareholders for sub-division /split of every 1 equity share having face value of Rs 10 each, fully paid-up into 10 equity shares having face value of Re 1 each fully paid-up.

"The rationale behind the stock split