Alchemist has informed the Indian stock exchanges that its shareholders on 09 May 2007 approved the reverse stock split to consolidate 10 equity shares of Rs. 1 each into One equity share of Rs. 10 each. Usually, when a stock split is announced the stock prices surge because the stock split increases the liquidity. Will the stock price of Alchemist fall because of the reverse stock split? Let’s wait and watch.
Record Date : The Record Date for the Alchemist reverse stock split is 12 July 2007