Stock News: Jindal Steel & Power

Steel maker Jindal Steel and Power (JSPL) on Friday said it has fixed January 28, 2008 as the record date for splitting its stocks in the ratio of 1:5.

Consequently, the shares of the company of Rs 5 each would be sub-divided into five shares of Re 1 each, it said in a filing to the Bombay Stock Exchange.

The firm said it had received approval from the shareholders for the stock split on Thursday.