Textile Stock: 10:1 Stock Split, January 31st Record Date; Watch & Buy In 2025?

A textile company called Mohite Industries Limited produces cotton yarn and produces electricity. The business is headquartered in Kolhapur, Maharashtra, and was established in 1990. Mohite Industries uses Maharashtra's Radhanagari Hydro Power Project to produce power. After trading was restricted due to GSM, Mohite Industries' shares concluded the day on January 6th at Rs 59.48 per share, a 2% lower circuit limit, with a market capitalization of Rs 119.55 Cr on the BSE.

Mohite Industries Stock Split

"We hereby inform to the exchange that the Mohite Industries Limited ('the Company') has considered and fixed Friday, January 31, 2025 as a Record Date for ascertaining eligibility of shareholders for sub-division/Split of equity shares of the Company from 1 (One) equity share having face value of Rs. 10/- (Rupees Ten only) each into 10 (Ten ) equity shares having face value of Re. 01/- (Rupee One only) each as approved by the shareholders through Postal Ballot on 21st December 2024," said the company in a stock exchange filing.

Mohite Industries Financials

The company's September 2024 quarter net sales of Rs 47.49 crore was a 93.49% increase over the September 2023 quarter's net sales of Rs 24.55 crore. In Q2FY25, its net profit was Rs. 2.69 crore, rising 46.52% from Q2FY24's Rs. 1.84 crore. EBITDA increased 5.18% from Rs. 9.08 crore in the quarter ended in September 2023 to Rs. 9.55 crore in the quarter ended in September 2024.

Mohite Industries Share Price Target

"Mohite Industries stock price is bearish on the Daily charts with strong resistance at 67.85. A Daily close below support of 58.63 could lead to a target of 52 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.