Multibagger stock, Feb. 20 -- Shares of Titan Biotech, a manufacturer of biological products, rose sharply by 20% to the day's high of Rs.312 apiece in intraday deals on February 20 as the stock turned ex-split in the ratio of 1:5.

The shares had closed at Rs.1,301 on Thursday, February 19. On Friday, the stock opened at Rs.288.35, reflecting the 1:5 stock split adjustment, which multiplied the number of shares and adjusted the price to Rs.260 per share.

The stock split effectively increased the number of outstanding equity shares five times and adjusted the price accordingly.

The company had announced the stock split in a 1:5 ratio in late November to enhance the liquidity of the company's equity shares and to encourage participation ...