1:10 Stock Split: Thursday, May 02 Fixed As Record Date; Buy The Stock To Be Eligible?

As of Friday's closing session, Bhagiradha Chemicals and Industries Limited has a market capitalization of Rs 1,894.32 Cr, making it a small-cap company in the chemical industry. Based in Hyderabad, India, Bhagiradha Chemicals & Industries Limited (BCIL) is a well-managed public limited company committed to producing superior pesticides. It can produce 3250 tonnes of different technical-grade insecticides, herbicides, and fungicides annually. Over the years, the company has sold its products to over a dozen nations, including the United States of America, Brazil, the United Kingdom, Portugal, Australia, South Africa, China, Germany, Malaysia, and Belgium. On Friday, the shares of Bhagiradha Chemicals and Industries Limited closed on the BSE at Rs 1820.50 apiece higher by 2.41% from the previous close after marking a record high at Rs 1,890 apiece level on 09/04/2024.

Bhagiradha Chemicals and Industries Stock Split Record Date

The Board of Directors of the company approved "to fix "Thursday, May 02, 2024" as the "Record Date" pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the purpose of sub-division/ split of existing Equity Shares of the Company, such that 1 (one) equity share having face value of Rs. 10/- (Rupees ten only) each, fully paid-up, be sub-divided/split into 10 (Ten) equity shares having face value of Re.1 /- (Rupee One Only) each, fully paid- up, ranking pari- passu in all respects, pursuant to the shareholders' approval received through postal ballot by way of remote e-voting on Wednesday, April 10, 2024 (being the last date of remote e-voting)," said Bhagiradha Chemicals and Industries in a regulatory filing.

Bhagiradha Chemicals and Industries Financials

The company reported a consolidated net income of Rs 75.13 Cr in the quarter ended December 2023 compared to Rs 126.50 in the December 2022 quarter. Its net expenses stood at Rs 68.78 Cr in the reported quarter as against Rs 109.15 Cr in the same quarter of FY23. Its consolidated EBIT reached Rs 6.35 Cr in Q3FY24 compared to Rs 17.34 Cr in Q3FY23. Bhagiradha Chemicals and Industries said in a regulatory filing that its quarterly net profit reached Rs 3.32 Cr in Q3FY24 which was Rs 11.65 Cr in Q3FY23.

Bhagiradha Chemicals and Industries Share Price Target

"Bhagiradha Chemicals & Industries Ltd is a leading Agro Chemical Company in India that is closely involved in manufacturing insecticides, fungicides, and herbicides. The company's stock is currently trading at an all-time high, making it a lucrative pick for traders and investors. Swing traders can tap into this bullish momentum to boost their gains and grow their portfolios. In order to do so, they may consider entering the stock at the price range of Rs. 1750-1790, setting a target of Rs. 1860-2100. I recommend holding the stock for at least 10-90 days to reap benefits but remember to follow a strict stop loss at Rs. 1650 to minimize loss and protect capital," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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