Solar Industries to consider stock split

A meeting of the board of directors of Solar Industries will be held on May 16 to consider and approve sub-division of its shares of face value ₹10 each into five shares of ₹2 apiece and to recommend the same for shareholder approval through postal ballot. The board will also consider and approve the audited financial results for the year ended on March 31, 2016 and alteration in the capital clause of the memorandum of association of the company and recommend the same for shareholder approval through postal ballot. The board will also fix the day, date and time of the 21st Annual General Meeting. Shares of Solar Industries edged down at ₹3,374.65, down 1.9 per cent on the BSE.