1:10 Stock Split, Rs 5/Share Dividend: Small Cap Stock Soars 10.01% Today, Why?

Small cap company BCL Industries Ltd shares today surged 10.01% today after oil marketing companies (OMCs) on Thursday declared an additional incentive of Rs 5.79 per litre (excluding goods and services tax) for ethanol sourced from maize.

Earlier yesterday Indian state fuel retailers increased the purchase price of ethanol made from maize by Rs 5.79 per litre to Rs 71.86 ($0.8635) per litre to boost its production for blending with gasoline. The new rates will become effective from January 5, 2023.

It is worth mentioning here that to ensure adequate supply of sweetener in market, maize will be used as an alternative to sugar in order to enhance ethanol production. Earlier last year in December, government had instructed sugar mills not to use cane juice for the production of ethanol as India's sugar production was expected to fall in 2023-24 FY that started in October.

BCL Industries Stock Performance & Return: Last trading price of BCL Industries share is Rs 74.98 apiece with intraday rally of 9.86%. The 52-week high price is Rs 79.14 apiece and 52-week low price is Rs 30.00 apiece, respectively. The company has a market capitalisation of Rs 1,930.17 crore. BCL Industries shares offered 43% gain in last 3-months, surged 52% in last 6-months, offered return of 146% in last 1-year, and gave return of 134% in last 2-years. In last 3-years, BCL Industries shares rallied 606%.

BCL Industries Ltd Dividend History: BCL Industries declared 8 dividends since Feb. 26, 2015. In the past 12 months, BCL Industries Ltd announced an equity dividend amounting to Rs 5.00 per share. At the current share price of Rs 74.65, BCL Industries has a dividend yield of 6.70%, as per Trendlyne data.

BCL Industries Stock Split: It split the face value 1 time since October 27, 2023. BCL Industries Ltd had last split the face value of its shares from Rs 10 to Rs 1 in 2023. The share has been quoting on an ex-split basis from October 27, 2023, according to Trendlyne.

BCL Industries About: BCL Industries Ltd has grown to become an integrated Industry player with businesses in key Industry verticals - vegetable oil refining, solvent extraction, oil extraction, Distillery-Ethanol Industry, real estate and rice sheller, according to its LinkedIn page.

Disclaimer: The stock highlights the rally in shares, dividend, stock split, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.