1:5 Sub-Division of Shares: November 15 Record Date For Stock Split; BUY/SELL?

A renowned producer, processor, and merchant exporter of premium pulses, spices, flour, and other food products and beverages is Contil India. It is publicly traded on the Bombay Stock Exchange and is acknowledged by the Indian government. The firm ensures the highest quality standards by operating state-of-the-art facilities for processing pulses and grinding spices in India. Under the trademarks "Contil From the Earth" and "Gujjus," Contil Group provides a wide range of products, including traditional and organic choices, with over 2,000 SKUs. Along with its own brands, the company's portfolio includes well-known names such as Raju Namkeen, Dhiraj, Marico, and HUL (Hindustan Unilever Limited).

Contil India Stock Split Record Date

"In terms of Regulation 42 of the SEBI Listing Regulations, we wish to inform you that the Company has fixed Friday, November 15, 2024 as the 'Record Date' for the purpose of determining the eligibility of Shareholders for the purpose of sub-division /split of every 1 (one) Equity Share having face value of Rs.10/- (Rupees Ten only) each, into fully paid-up 5 (Five) Equity Share s having face value of Rs. 2/- (Rupee Two) each fully paid-up, as approved by the shareholders at 30th Annual General Meeting held on September 28, 2024," the company informed stock exchanges.

Contil India Stock Split Update

"Upon Sub-division of the Equity Shares as aforesaid, the existing Share Certificates of the Equity Shares of the face value of Rs.10/- (Rupees Ten Only) each in the physical form shall be deemed to have been automatically cancelled and be of no value or effect from the Record Date. Further the Company without requirement of surrendering of the old/ existing Share Certificate(s), do directly issue and dispatch the new Share Certificates of the Equity Shares of the face value of Rs.2/- (Rupees Two Only) each of the Company to its Shareholders holding Shares in physical form, in lieu of such old/existing Share Certificates / Letters of Confirmation, within the prescribed timelines as per the act or that may be prescribed in this behalf, from time to time and shall comply with the prevailing laws/ guidelines in this regard, and in the case of Equity Shares held in dematerialized form, the number of sub-divided Equity Shares be credited to the respective beneficiary accounts of the Shareholders maintained with their respective the Depository Participants, in lieu of the existing credits representing the Equity Shares before subdivision," said Contil India in a stock exchange filing.

Contil India Share Price Target

"Contil India is bearish on the Daily charts with strong resistance at 267. A Daily close below support of 231 could lead to a target of 187 in the near term," commented A R Ramachandran, Independent Research Analyst.

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