Announced Fri, 10 Jul · 18:20 IST
Board approves Teneron stake buy, 1:5 stock split, name change to Novalum
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+4.0%1-day move
₹267.15
prior close
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base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————+4.0+4.0+8.2+10.3+12.5+14.8————
Up moveDown movePending
AI summary
Board approved: 1:5 stock split (face value Rs.10 to Rs.2) to boost liquidity; acquisition of up to 51% in Teneron Limited, an aluminium recycling firm with FY25 turnover of Rs.708 crore, done as a related party transaction; name change to Novalum Materials Limited; borrowing limit hike to Rs.100 crore; and material related party deals with Teneron up to Rs.250 crore. 51st AGM on 6 August 2026.
Likely market impact
Stock split boosts affordability. Aluminium acquisition is a related party deal. New name signals strategic shift. Shareholders to vote at AGM.