1:5 Share Split: Record Date - 30th May, 2024; Right Time To Buy To Be Eligible?

With more than 300 products in its portfolio spanning several therapeutic areas, Balaxi Pharmaceuticals is a reputable IPR-based pharmaceutical firm with operations in the Americas, Africa, and Caribbean islands.

Balaxi Pharmaceuticals Stock Split

"Board of Directors considered and approved the proposal for sub-division/ split of Equity Shares of the Company, such that, 1 (One) Equity Share having face value of Rs. 10/- (Rupees Ten only) each be sub-divided into 5 (Five) equity shares having face value of Rs. 2/- (Rupees Two only) each, subject to regulatory/ statutory approvals as may be required and the approval of Shareholders of the Company," Balaxi Pharmaceuticals informed stock exchanges on 28th February.

Balaxi Pharmaceuticals Stock Split Record Date

"This is to inform you that the company has fixed May 30, 2024, as the "Record Date" for determining entitlement of equity shareholders for the purpose of subdivision/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, will be subdivided into 5 (five) equity shares having face value of Re. 2/- (Rupee two only) each, fully paid-up, ranking paripassu in all respects which was approved by the Equity Shareholders through Postal Ballot on April 16,2024," the company said in a regulatory filing on 9th May.

Balaxi Pharmaceuticals News

The company's first pharmaceutical formulation factory, to be established in Jadcherla, Hyderabad, is now undergoing project implementation. The managing director recently provided the Board of Directors with an update on this progress. Beginning on May 10 of this year, the company plans to construct its first pharmaceutical formulation plant, which will be completed in eight months, by January 2025.

Balaxi Pharmaceuticals Share Price Target

"IPR-based Indian pharmaceutical company Balaxi Pharmaceuticals Ltd has been under the limelight after the company declared a 0.50 per share dividend against the average sector dividend of 0.63% to be disbursed on 1st July 2024. The small-cap stock has delivered 18.37% returns in a year and its total assets grew from 6.10 to 39.66 crores between 2019 and 2023, suggesting that it can offer multifold returns. The stock with a market cap of Rs.707 crore currently has a PE ratio of 15.40 compared to the average sector PE of 42.12, suggesting undervaluation. Those interested can buy and average it at the Rs.610-710 price range. Investors can bet on this stock for 12-40 months for a targeted price of Rs. 800-1550. However, I recommend setting the stop loss at Rs. 500 to prevent major losses," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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