Safari Industries jumps 12% after stock split

NEW DELHI: Shares of Safari Industries went ex-split on Friday to face value of Rs 2 each from Rs 10 earlier. The split stock jumped over 12 per cent in trade after the board members approved to raising of up to Rs 51 crore funds by way of preferential issue.

At 10.15 am, the scrip was trading 12.51 per cent higher at Rs 397.95 on BSE. It settled at Rs 400, up 13.09 per cent on Friday.

An extra-ordinary general meeting of the company will be held on October 21 for obtaining shareholders approval for the preferential issue, the company told exchanges.

The company reported a standalone sales of Rs 104.49 crore for June quarter, up 19.86 per cent over the same quarter last year. Net profit after tax for the quarter stood at Rs 3.27 crore.