1:1 Bonus Shares, 1:5 Stock Split: Ex-Date On 19th March; Buy?

With a market valuation of Rs 1,970 Cr, Colab Cloud Platforms Ltd is a small-cap company in the financial services industry. The firm Colab Cloud Platforms Limited is headquartered in India. The corporation announced a 1:5 stock split and a 1:1 bonus share program, with a record date of March 19, 2024. With respect to India's T+1 settlement process, the stock was observed trading 1.96% higher on the BSE at Rs 192.70 a share on Tuesday since it trades ex-bonus and ex-split.

Colab Cloud Platforms Stock Split Record Date

"We hereby inform to the exchange that the Record date has been shifted to Tuesday, 19th March 2024 for sub-division/Split of the equity shares of the Company from 1 (One) equity share having face value of Rs. 10/- (Rupees Ten only) each into 5 (Five) equity shares having face value of Rs. 02/- (Rupees Two only) each," said the Board of Directors in a BSE filing on 06th March 2024.

Colab Cloud Platforms Bonus Shares Record Date

"We hereby inform to the exchange that the Board of Directors have considered and fixed Tuesday, 19th March 2024 as a Record Date for the following purpose: Issue of 5,10,00,000 (Five Crore Ten Lakh) equity bonus shares in a ratio of 1:1 i.e. 01 (One) equity share for every 01 (One) existing equity share of the Company having face value of Rs. 2/- (Rupees Two only) fully paid-up (considering Split/Sub-division of equity shares of the Company)," the company further stated in a separate regulatory filing.

Colab Cloud Platforms Financials

After reporting net sales of Rs. 0.61 crore in the December 2022 quarter, the firm recorded net sales of Rs. 1.12 crore in the December 2023 quarter, an 82.89% growth. Its net profit for the third quarter of FY24 jumped by 109.34% to Rs. 0.88 crore from Rs. 0.42 crore in Q3FY23. After reporting at Rs. 0.42 crore in the same quarter of FY23, EBITDA increased to Rs. 0.88 crore in the quarter, a 109.52% growth.

Colab Cloud Platforms Share Price Target

Colab Cloud Platform is bullish but also very overbought with strong resistance at 193 on the Daily charts. Investors should book profits at current levels as a Daily close below support of 185 could lead to a target of 145 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

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