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The board of Tide Water Oil Company (India) on Thursday approved a proposal to split every one share of face value ₹10 each into two shares of face value ₹5 each, subject to shareholder approval. The board also gave its consent to a bonus issue of shares to the company’s existing shareholders in the ratio of 1:1. The stock of Tide Water Oil closed at ₹26,325.35, down 1.5 per cent on the NSE.
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