1:1 Bonus Shares & 1:10 Stock Split: Record Date On Monday 18th March; Bet On The 52W-High Stock?

In the commercial services industry, Tine Agro Ltd. is a small-cap company with a market capitalization of Rs. 1,109.89 Cr. Tine Agro Ltd. was established in 1994 and engages in the trading of agricultural products and related operations. The company has announced 1:1 bonus shares and 1:10 stock split for which the record date is falling tomorrow on 18th March, Monday however ahead of the ex-bonus date the stock ended on Friday on the BSE at a record high level of Rs 441.95. One of Dalal Street's multibagger stocks is Tine Agro, which has produced a massive multibagger return of 3,137.73% in a single year and 178.57% YTD so far in 2024. Meanwhile, the stock climbed 1,007.64% during the previous six months, turning it into a multibagger in recent times.

Tine Agro Record Date For Stock Split

For the purpose of sub-division of 1 equity share of face value of Rs 10/- each fully paid-up to 10 equity shares of the face value of Rs 1 each fully paid-up, the company has fixed Monday, 18th March 2024 as the record date. The stock split action has been approved by the Board of Directors to improve the liquidity of the company's equity shares in the stock market and to make the shares more affordable to small investors, according to Tine Agro.

Tine Agro Record Date For Bonus Shares

For the purpose of 1:1 i.e. 1 new bonus equity shares of the face value of Re. 1/- each fully paid up for every 1 existing equity share of face value of Re. 1/- each fully paid up, the Board of the company has finalized Monday, 18th March 2024 as the record date. Due to the T+1 settlement mechanism in India, the stock shall trade ex-bonus and ex-split tomorrow. 25,11,34,580 equity shares of Re 1/- each is the total number of securities proposed as a part of bonus shares.

Tine Agro Financials

The company reported a net income of Rs 22.68 Cr in the December 2023 quarter compared to Rs 1.91 Cr in the December 2022 quarter. Its net expenses were Rs 16.76 Cr which was Rs 1.89 Cr in the same quarter of the previous fiscal. The company's EBIT stood at Rs 5.92 Cr in Q3FY24 as against Rs 0.01 Cr in Q3FY23. The company posted a net profit of Rs 5.50 Cr in Q3FY24 which was Rs 0.01 Cr in the corresponding quarter of FY23.

Tine Agro Share Price Target

Tine Agro is extremely overbought on the Daily charts. Investors should book profits at current levels as a Daily close below support of 416 could lead to a target of 360 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

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