Alkyl Amines stock rises 18% on stock split, expansion plans

Share of Alkyl Amines hit all time high today after the firm said its board would consider stock split and setting up new project including amines in its February 2 meeting. The board will also declare interim dividend.

Alkyl Amines stock touched an all time high of Rs 5,248, rising 17.91% against previous close of Rs 4,450.90 on BSE.

The share has gained 34.31% in the last 3 days. The stock opened with a gain of 2.83% at Rs 4,577 on BSE. Alkyl Amines share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 341% in one year and risen 34.31% since the beginning of this year.

In a week, the stock has climbed 32.96%.

"The board of directors of the company are scheduled to meet on February 2 to consider the proposal of sub-division of equity shares of the company from the face value of Rs 5 to a lower denomination. The board will also consider the proposal for setting up of new project(s) including Amines," the firm said

Further, the company added that in the said meeting, the board will approve financial results for the quarter and nine months ended December 31. The board will consider the declaration of interim dividend, if any, on the equity shares of the company for the financial year 2020-21.

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Meanwhile, market indices closed at record highs for the tenth straight session on Tuesday, amid mixed global equities. After a volatile trading session, Sensex ended 260 points higher at 48,437 and Nifty gained 66 points to 14,199.

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