NALCO approves stock split

8220;By enhancing the number of shares and reducing the price for each share,the float and liquidity of the share shall be enhanced in stock exchanges,8221; NALCO Director Finance amp; CMD in-charge B L Bagra NALCO,said in a statement after the meeting.

8220;This is also expected to increase the total market capitalisation and enhance value to the shareholders,8221; Bagra added.

NALCO8217;s paid-up capital of Rs 644.31 crore now stands enhanced to Rs 1,288.62 crore,without any cash consideration,company sources said.

The company has also decided to amend the Article of Association,to make a provision for issue of Employees Stock Options ESOP,that is shares to its employees,they said.

The ESOP is planned to be issued to the executives of the company as part payment of dues to them under Performance Related Payment PRP,a component of revised pay package. The detailed scheme of ESOP,including price,is however yet to be finalised,sources said.