1:5 Stock Split: Record Date For Sub-Division of Shares Shall Be Decided; BUY?

The Shriyam Group's flagship company, Shardul Securities Limited, has extensive expertise in the financial sector. The company's current activities include investing in debt, equity, merchant banking, IPO funding, advisory services, and broking. In addition to being listed on the BSE, the firm is also registered with the RBI as an NBFC.

Shardul Securities Stock Split

The Board of Directors considered and approved "Sub-division of Equity Shares of the Company, all the Authorized, Issued, Subscribed and Paid-up Equity Shares of nominal value of Rs. 10/- (Rupees Ten Only) each existing on the record date to be fixed by the Board of Directors of the Company, such shall that 1 (One) Equity Share of Rs. 10 (Rupees Ten Only) shall stand sub-divided into 5 (Five) Equity Shares of nominal value of Rs. 2/-(Two Rupees) each fully paid up, subject to the approval of Equity Shareholders of the Company. The Record Date for sub-division/split of existing Equity Shares shall be decided after taking aforesaid approval of the Equity Shareholders of the Company," said Shardul Securities in a stock exchange filing.

Shardul Securities Financials

Shardul Securities' net profit increased 62.06% to Rs 28.75 crore in the September 2024 quarter from Rs 17.74 crore in the September 2023 quarter. Compared to the previous quarter, which ended in September 2023, when sales were Rs 29.86 crore, sales in the quarter ending in September 2024 increased 34.33% to Rs 40.11 crore.

Shardul Securities Share Price Target

"Shardul Securities stock price is bearish on the Daily charts with strong resistance at 512.2. A Daily close below support of 473 could lead to a target of 435 in the near term," said A R Ramachandran, Independent Research Analyst.

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.