Stock Split: Adani Group stock to divide its equity shares on August 1

The board of Adani Power Ltd. will be meeting on Friday, August 1, to consider a proposal to split its equity shares.

Adani Power's shares, which currently carry a face value of ₹10, will be divided during Friday's board meet.

This will be the first stock split that the company will be considering for its shareholders. This is also the first such corporate action that Adani Power will be carrying out. It has never issued a bonus share prior, nor has it carried out a stock split.

Companies generally carry out a stock split to make it easier for shareholders to buy or sell their shares, as it increases the liquidity in the stock. A stock split divides a company's stock into more shares, lowering the price and increasing the number of shares available to trade.

Shares of Adani Power has surged to the highs of the day after the announcement, currently trading 3.2% higher at ₹589. The stock is down 21% from its 52-week high of ₹752.