1:10 Stock Split: Thursday, April 18 - Record Date; Buy The Stock To Be Eligible?

As of Tuesday's closing session, the market value of Suratwwala Business Group Ltd, a small-cap firm in the real estate industry, reached Rs 1,590.32 Cr. One of Pune's top construction businesses is Suratwwala Business Group Ltd. On Tuesday, the shares of Suratwwala Business Group closed at Rs 917.05 apiece level after recently scaling a record high at Rs 968.95 level on 02/04/2024. Suratwwala Business Group is one of the recent multibagger stocks, having risen 53% YTD so far in 2024 and 389% in only one year. The shares of Suratwwala Business Group Ltd reached a 52-week-high of Rs 968.95 on (02/04/2024) and a 52-week-low of Rs 178.10 on (17/04/2023).

Suratwwala Business Group Stock Split Record Date

"We wish to inform that 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," said Suratwwala Business Group in a regulatory filing.

Suratwwala Business Group Financials

The company reported a consolidated net income of Rs 16.53 Cr in the quarter ended December 2023 compared to Rs 16.27 Cr in the December 2022 quarter. its net expenses reached Rs 7.42 Cr which was Rs 7.96 CR in the same quarter of FY23. Suratwwala Business Group said its quarterly EBIT stood at Rs 9.11 Cr in Q3FY24 which was Rs 8.31 Cr in Q3FY23 while its consolidated net profit was Rs 6.54 Cr in the reported quarter as against Rs 5.95 Cr in Q3FY23.

Suratwwala Business Group Share Price Target

"Suratwwala Business Group Ltd, one of the leading construction companies in Pune, recently announced a share split in a ratio of 1:10 which will be carried out on the record date of 18th April 2024. The company's current stock price of Rs. 919, and an impressive returns rate of 382.16% in a year, display its strong fundamentals and performance. However, the price momentum also suggests that the stock is currently in the overbought territory. In this situation, short-term investors should avoid entering it at its current price. Then again, those who wish to bet on this stock may consider exploring the safe buying range between Rs. 720-800, with a set target of Rs.900-1500. However, they must consider holding the stock for a period ranging from 2 months to 10 months to generate substantial gains," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.