1:2 Stock Split: Record Date On April 24; Buy The Scrip Now To Be Eligible?

As of the BSE closing session on Tuesday, Bharat Bijlee, a small-cap company in the capital goods category, has a market valuation of Rs 3,776.46 Cr. Bharat Bijlee (BSE: 503960, NSE: BBL) is a leading name in the industry today and one of the leaders in electrical engineering in India. Power Systems, which includes the transformers and projects divisions, and industrial systems, which includes the electric motors, drives & industrial automation, and elevator systems divisions, are the company's two main divisions being founded in 1946. During its last trading session on 16th April, the stock ended 4.53% higher at Rs 6682.15 apiece as it nears its record date fixed as Wednesday, April 24, 2024 for the purpose of a stock split. Bharat Bijlee shares reached a 52-week-high level at Rs 7,077.90 on (10/04/2024) and a 52-week-low of Rs 2,628.25 on (04/05/2023).

Bharat Bijlee Stock Split Record Date

"This is to inform you that, the Board of Directors of the Company, through a Resolution passed by circulation, has approved and fixed Wednesday, April 24, 2024 as the Record Date, for the purpose of determining the eligibility of Shareholders of the Company, for Sub-division / Split of Existing 1 (One) Equity Share of face value of Rs 10/- (Rupees Ten only) each, fully paid up, into 2 (Two) Equity Shares of face value of Rs 5/- (Rupees Five only) each, fully paid up, ranking pari passu in all respects which was approved by the Shareholders of the Company, through Postal Ballot on Thursday, March 21, 2024," said Bharat Bijlee in a regulatory filing.

Bharat Bijlee News

"In terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('the Listing Regulations'), Notice is hereby given that a Meeting of the Board of Directors of the Company is scheduled to be held on Friday, May 17, 2024, inter alia, to consider and approve: 1. the Audited Annual Accounts of the Company, for the Financial Year 2023-2024 along with the Audit Report thereon; 2. the Audited Financial Results of the Company, for the Quarter and Financial Year ending March 31, 2024; 3. Recommendation of Dividend on Equity Shares, if any, for the Financial Year ending March 31, 2024," said Bharat Bijlee in a stock exchange filing.

Bharat Bijlee Financials

On a standalone basis, the company reported a net income of Rs 433.33 Cr in the quarter ended December 2023 compared to Rs 395.12 Cr in the quarter ended December 2022. Its net expenses reached Rs 388.33 Cr in the reported quarter which was Rs 358.71 Cr in the same quarter of FY23. Bharat Bijlee said its standalone EBIT reached Rs 45 Cr in Q3FY24 which was Rs 36.41 Cr in Q3FY23 whereas its net profit stood at Rs 29.69 Cr as against Rs 23.09 Cr in the corresponding quarter of FY23.

Bharat Bijlee Share Price Target

"Leading Electrical Engineering company, Bharat Bijlee Ltd, has announced a share split with the final record date scheduled for April 24, 2024. The company's stock is currently trading at Rs.6686, exhibiting a bullish trend. To ride its bullish run, individuals may consider entering the stock in the Rs.6500 to 6700 range. They may set a target between Rs.7100 and 8300 with a holding period of 4 months in mind. However, they must set a stop loss of Rs.6100 to minimize loss," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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