Stock split and bonus issue: This company has now fixed a record date post announcing a sizable interim dividend!
In addition to a strong quarter performance and a significant boost in net profit, the company declared an interim dividend of Rs 17 per share to its shareholders.
The Indian headline indices closed lower on Friday, weighed down by steep losses in real estate, telecommunications and banking stocks. BSE Energy, BSE Oil & Gas and BSE Capital Goods were the only sectors that gained. The BSE Sensex declined 0.52 per cent to 61,002 level at the close. The Nifty 50 index fell 0.51 per cent to a level of 17,944.
Shares of 360 One Wam Ltd (formerly known as IIFL Wealth Management Ltd) attracted investors in an otherwise weak market after the company announced the record date for determining the eligibility of shareholders entitled to equity shares upon sub-division and bonus issue.
The company announced the sub-division of each existing equity share of face value of Rs 2 into two equity shares of face value of Re 1 and issue of one bonus equity share of the company of face value Re 1 each, for every one fully paid-up equity shares of face value Re 1 each. The company has fixed March 2, 2023 as the record date for the same.
In addition to a strong quarter performance and a significant boost in net profit, the company declared an interim dividend of Rs 17 per share to its shareholders.
IIFL Wealth Management Ltd is one of India's largest private wealth management firms. The company primarily serves as a wealth manager, offering financial product distribution, advisory and portfolio management services.
Keep a close eye on this scrip for the upcoming sessions!