IOL Chemicals & Pharmaceuticals share price gains 8% as board to consider stock split next week

Stock Market Today: IOL Chemicals & Pharmaceuticals share price gained more than 8% in morning trade on Thursday after the company said its board will consider a stock split at its meeting next week.

IOL Chemicals & Pharmaceuticals share price opened at ₹406 on the BSE on Thursday, marginally higher than the previous day's closing price of 405.35. IOL Chemicals & Pharmaceuticals share price thereafter gained and touched an intraday high of ₹441, marking a gain of more than 8%.

The said meeting is slated to take place on Friday, December 27.

IOL Chemicals Stock Split

In a release on the exchanges, IOL Chemicals & Pharmaceuticals said, “We wish to inform you that the meeting of the Board of Directors is scheduled to be held on Friday, the 27th December 2024 inter-alia to consider and approve the alteration in the share capital of the Company by sub-division / split of existing equity shares having face value of Rs. 10/- each, fully paid up, as may be determined by the Board of Director”

IOL Chemicals & Pharmaceuticals also informed that the trading window for dealing in securities of the company will be closed from December 19 till December 29 (inclusive of both days).

About IOL Chemicals & Pharmaceuticals

IOL Chemicals & Pharmaceuticals is an active pharma ingredient and specialty chemicals manufacturer. IOL is engaged in the manufacturing and selling of chemicals and bulk drugs. The company caters to pharmaceutical and specialty chemical requirements across both domestic and international markets.

IOL Chemicals & Pharmaceuticals is the largest producer of Ibuprofen with ~30% global share and the only company worldwide being backwards integrated for all intermediate stages of Ibuprofen having a capacity of 12000+ MT.

IOL Chemicals & Pharmaceuticals has a dedicated USFDA-approved facilities for Ibuprofen and is also among the major producers of diabetes control drug Metformin in India.

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