Kolkata, Sep 17 (PTI) Shares of power utility CESC Ltd on Friday rose by nearly 4.5 per cent after the stock split came into effect.

Also Read | This Company Has Been Changing Lives and Leading the Way in Recruiting & Servicing Clientele.

The scrip ended the day at Rs 92.10, up by 4.42 per cent on the BSE. During the day, it surged to Rs 96.75.

Also Read | Infinix Hot 11 S, Hot 11 Smartphones Launched in India; Prices, Features & Specifications.

The RP Sanjiv Goenka group flagship company split its shares in 1:10 ratio. An equity share with the face value of Rs 10 was sub-divided into 10 shares with a face value of Re 1 each.

Based on split-adjusted price, shares of CESC gained nearly 4.5 per cent as investors' demand remained strong for the energy stock.

On the rationale behind the stock split, the company said it intends to improve the liquidity of its shares in the stock market by reducing the nominal value of the scrip through the process of sub-division.

CESC is engaged in the business of distribution of electricity in its licensed area in Kolkata, Howrah, Hooghly, North and South 24 Parganas in West Bengal.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)