Shares of Ok Play India Ltd hit an upper circuit on Thursday ahead of its board meeting to consider stock split or subdivision of its equity shares. The company announced it will host its board meeting through an exchange filing during Thursday's trading session. A meeting of the board of directors of the company is being convened on January 30, 2024, Tuesday to consider and approve subdivision/split of existing equity shares of face value of Rs 10 each, said the company with the exchange filing with the BSE. However, the company will announce the split ratio later, following the approval from the company board. It will also alter the capital clause of the memorandum of association (MoA) of the company, if the proposal of stock split is approved by the board, it added. Following the announcement, shares of Ok Play India surged 5 per cent, locked in the upper circuit limit at Rs 150.90 on Thursday, commanding a total market capitalization of Rs 400 crore. The scrip had settled at Rs 143.75 in the previous trading session on Wednesday. Shares of Ok Play India have surged more than 240 per cent from its 52-week low at Rs 44.20 in January 2023. The stock has gained 23 per cent in the last one month. The stock has surged more than 500 per cent in the last two year period. OK Play India, established in 1989, is a company dedicated to the production of plastic molded toys, school furniture, outdoor play equipment, point-of-purchase products, automotive components, and electric vehicles. The company is also engaged in manufacturing plastic fuel tanks for heavy commercial vehicles.
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