A smallcap stock in the business of residential commercial projects, Suratwwala Business Group touched a new 52-week high on April 1 ahead of splitting into a 1:10 ratio. Riding on the back of strong bulls, the stock has now gained over 443% from its 52-week lows.
Suratwwala Business Group Share Price:
The stock ended at Rs 930.80 apiece, up by 7% on BSE with a market cap of Rs 1,614.16 crore. During the trading hours of Monday, the stock hit a new 52-week high of Rs 939.95 apiece on BSE, resulting in an upside of 443% from its 1-year low of Rs 173.05 apiece.
The stock's upper and lower circuit limits are at Rs 1,116.95 and Rs 744.65 apiece.
Suratwwala Business Group Stock Split:
The stock is planning to split its latest price level. 1 existing share will be split into ten new shares.
Share splits improve liquidity for listed companies while enhancing the demand alongside becoming attractive and cheaper for both new and existing investors.
The latest upside can be attributed to the company's announcement of a record date for the sub-division.
As per the regulatory filing, the Board of Directors of Suratwwala Business Group Limited at its meeting held on Friday, March 29, 2024, has fixed, Thursday, April 18, 2024, as the 'Record Date' for determining the entitlement of Equity Shareholders for the purpose of Sub-Division/Split of existing Equity Shares of the Company, such that existing 1 (One) Equity Share having a face value of Rs. 10 (Ten) each into 10 (Ten) Equity Shares of Rs. 1 (One) each, fully paid up, ranking pari passu in all respects.
From the current price level, 1 Rs 930.80 per share of Suratwwala would be subdivided to around Rs 93.08 per share (Rs 930.80/10). This is an example as the price of Suratwwala may change by the time the ex-split date arrives as the market moves forward. The ex-split is around two trading weeks away on April 18 as well.
The stock split will increase investors' portfolios in terms of number of shares. For instance, if you held 500 Suratwwala shares before the ex-split date, then this would multiply to 5,000 aka 10 times (500 X 10).
It needs to be noted that the share capital and reserves remain the same. For instance, if we take the same example, 500 shares x Rs 930.80 are valued at around Rs 4,65,400 currently. After the stock split and adjusting the price, 5000 X Rs 93.08 will value the same as Rs 4,65,400. It is after the stock split adjustment, that your gains and losses will come to play as the stock moves forward.
About Suratwwala Business Group:
The company is Pune's one of the best and leading construction companies that assures its results based on quality and trust. The real estate sector is in demand for envisioning new heights of the dynamics of the industry.
Disclaimer: The write-up highlights the latest development in 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
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