Penny stock Family Care Hospitals declares stock split

The Board of Family Care Hospitals has approved the split of the nominal value of its equity shares from Rs 10 each to Re 1 each. The split will help in increasing the liquidity in the market, with the aim of making the shares more affordable for new investors. Further, the Board has approved keeping the paid-up share capital unchanged, and it has rejected the proposal for issuing bonus shares. The stock split will result in the stock price being adjusted on the ex-split date according to the split ratio, and shares of Family Care Hospitals were trading higher by 0.85% on Friday.