New Delhi: Deep Industries Limited, an Indian oil and gas exploration company, has announced a stock split on Monday, April 11, 2022. The record date for the stock split has been set as Wednesday, April 20, 2022.

The company has announced a 1:5 stock split, which means that for every one share held by an investor, they will receive five additional shares. This move is aimed at increasing the liquidity and accessibility of the company’s shares to a wider range of investors, including retail investors.

Deep Industries Limited is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in India. The company’s shares closed at Rs. 262.70 on Monday, April 11, 2022, on the NSE.

The company has a market capitalization of around Rs. 1,100 crores ($148 million USD) and has been operating in the oil and gas sector for over 25 years. The company specializes in providing gas compression services, gas dehydration services, and gas processing services to various clients in India and abroad.

The stock split announcement has been well-received by investors, as the move is expected to increase the accessibility and affordability of the company’s shares. The move is also expected to increase the trading volume of the company’s shares, which could lead to an increase in the company’s overall valuation in the long run.