1:5 Stock Split Recommended: Metals Stock Posts 23.74% Rise In Net Profit, Shares Up 185%

Board of Directors of Abans Enterprises Ltd today approved 1:5 stock split implying 1 equity share will be split into 5 new shares. Current market price of Abans Enterprises Ltd shares on BSE is Rs 128.50 per share with decline of 3.17% in trade today. The company has not yet fixed record date for stock split. Abans Enterprises shares declined 26% in last 1-year and gained 185% in last 5-years.

The company also announced its consolidated net profit of Rs 4.43 crore for the June 2024 quarter, up 23% as against the net profit of Rs 3.58 crore reported in the similar quarter of last year. Check details below:

Abans Enterprises Approves Stock Split: According to the BSE filing of Abans Enterprises issued as on August 9, 2024, "alteration in the share capital of the Company by sub-division/ spilt of existing Equity Shares of the Company from l(One) equity share having face value of Rs. 10/- each (Rupees Ten Only), fully paid-up into 5(Five) equity shares having face value of Rs. 2/- each (Rupees Two Only) fully paid-up, subject to approval of shareholders of the Company. The Record Date for sub-division/ split of existing equity shares will be intimated in due course."

Abans Enterprises Quarterly Results: The company declared its total income for June 2024 quarter at Rs 259.79 crore as against Rs 281.08 crore declared in the similar quarter of last year. The total expenses of Abans Enterprises for June 2024 quarter announced at Rs 254.89 crore from Rs 275.69 crore announced in the year ago period.

Abans Enterprises Ltd Share Performance: The 52-week high price of Abans Enterprises Ltd shares on BSE is Rs 200.00 per share (as on 17/08/2023) and 52-week low price is Rs 111.40 per share (as on 09/05/2024), respectively. Abans Enterprises shares declined 13% in last 6-months, rallied 17% in last 2-years, and offered return of 25% in last 3-years.

About: Abans Enterprises Limited ("AEL") was incorporated on 2nd February, 1985. Presently, AEL is listed on BSE Limited and Metropolitan Stock Exchange of India Limited (MSEI). AEL is engaged in the business of trading in Commodities, Agri - Commodities, Precious Metals, Shares, Currencies and all kind of Derivatives over all the leading Exchanges and also in the Spot Market, according to its official website.

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