A person walks previous a display screen displaying Tata Metal brand earlier than the beginning of a information convention in Mumbai, India Could 25, 2016. REUTERS/Danish Siddiqui/Information
NEW DELHI, April 17 (Reuters) – The board of Tata Metal Ltd (TISC.NS) will on Could 3 take into account a proposal to separate the inventory and likewise advocate a dividend, the Indian metal maker mentioned in a press release on Sunday.
With out specifying the ratio of the inventory break up, it mentioned the assembly on Could 3 would take into account a sub-division of the shares with a nominal worth of 10 Indian rupees every.
The break up can be topic to regulatory and statutory approvals.
On Could 3, the corporate can even announce outcomes for the quarter ended March 31, the corporate mentioned.
Tata Metal closed at 1,319.5 rupees a share on Wednesday. Indian fairness markets have been closed on Thursday and Friday.
Reporting by Aftab Ahmed; enhancing by Barbara Lewis
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