New Delhi, Oct. 13 -- Shares of Computer Age Management Services (CAMS), the registrar and transfer agent for mutual funds, rose nearly 1% in intraday trade on Monday to Rs.3,888 apiece after the company's board, at its meeting held on October 10, approved a stock split in the ratio of 1:5. The move involves subdividing one equity share of Rs.10 face value into five shares of Rs.2 each, fully paid-up.

The proposal is subject to shareholder approval via postal ballot, and the company said it will announce the record date once the approval is secured. The entire process is expected to be completed within two months from the date of approval, pending any required regulatory clearances.

CAMS stated that the stock split aims to enhance share...