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The board of Precision Wires India on Thursday approved a proposal to sub-divide the company’s equity shares from the existing face value of ₹10 a share to ₹5 a share. The decision is, however, subject to approval from the industrial products maker’s shareholders at the ensuing AGM. The board approved the sub-division to increase liquidity in its shares at the stock exchanges. The board also approved adoption of a new set of Articles of Association for the company. Shares of Precision Wires flared up 4 per cent at ₹133.45 on the NSE.
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