1:10 Stock Split: 2nd April Fixed As Record Date; Buy To Be Eligible?

With a market valuation of Rs 217 Cr, Bodhi Tree Multimedia Ltd is a small cap company in the consumer discretionary industry. It is one of the top companies in India for producing entertainment content. Bodhi Tree Multimedia is one of Dalal Street's multibagger stocks; in just three years, the share price has shot up by almost 1,370%. However, the company's announcement of a record date for a stock split has drawn attention to the stock.

Bodhi Tree Multimedia Stock Split Record Date

"This is to inform you pursuant Regulation 42(2) and any other Regulation of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, notice is hereby given that the Record Date for the purpose of- (i) Split / sub-division of shares of the Company from face value of Rs. 10 (Rupees Ten) each to face value of Rs.1 (Rupees One) each. Shall be Tuesday, 02nd April, 2024," said Bodhi Tree Multimedia in a regulatory filing.

The rationale behind the split / consolidation (i.e., for 1 equity share of face value of Rs.10/- each, 10 equity shares of face value of Rs. 1/- each) is to inter-alia, improve the liquidity of equity shares with higher floating stocks and to make the equity shares more affordable to the investors, according to Bodhi Tree Multimedia.

Bodhi Tree Multimedia Financials

On a consolidated basis, the company reported a net income of Rs 12.91 Cr in the December 2023 quarter compared to Rs 11.20 Cr in the December 2022 quarter. Its net expenses reached Rs 11.99 Cr in Q3FY24 compared to Rs 10.18 Cr in Q3FY23. Its EBIT stood at Rs 0.92 Cr which was Rs 1.02 Cr in the same quarter of the previous fiscal. Bodhi Tree Multimedia said its quarterly consolidated net profit was Rs 0.28 Cr in Q3FY24 as against Rs 0.99 Cr in the corresponding quarter of the previous fiscal.

Bodhi Tree Multimedia Share Price Target

Bodhi tree Multimedia is bearish on the Daily charts with strong resistance at 198. A Daily close below support of 170 could lead to a target of 147 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

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