10:1 Stock Split: Record Date To Be Declared In Due Course; Bet To Be Eligible?

Worth Investment & Trading Co Ltd is a small-cap company in the financial services industry with a market worth of Rs 335.41 Cr as of the closing session on Tuesday. On Tuesday, the shares of Worth Investment & Trading Co Ltd wrapped up at a record high level at Rs 334.45 each or at a 2% upper circuit limit. after declaring the stock split in a 10:1 ratio. Established in 1980, Worth Investment and Trading Ltd is a reputable investment company that is listed publicly on the Bombay Stock Exchange (BSE).

Worth Investment & Trading Co Stock Split

"We wish to inform you that the Board of Directors, at its Meeting held today (i.e.) 30th April, 2024, inter-alia, approved the following business: Sub-division / split of Face Value of the Equity Shares of the Company subject to approval of the Members in the ensuing Extra-Ordinary General Meeting: Sub-division / Split of Face Value of the Equity Shares of the Company having Face Value of Rs. 10/- each to Re. 01/- each as per Section 61(1)(d) of the Companies Act, 2013," said the company in a regulatory filing.

The rationale behind the stock split is to improve the liquidity of the company's shares in the stock market and to make it more affordable for the individual retail investors and also to widen shareholder base, according to the company.

"Pursuant to the sub-division of equity shares of the Company, the authorized, issued, subscribed and paid-up equity share capital of 1 (one) equity share of the face value of Rs 10/- (Rupees ten only) each shall stand sub-divided into 10 (ten) equity shares having a face value of Rs 1/- (Rupees one only) each from the record date as may be fixed by the Company and shall rank pari-passu in all respects with each other and carry the same rights as to the existing fully paid-up equity share of Rs 10/- (Rupees ten only) each of the Company and in case of the equity shares held in dematerialized form, the number of sub-divided equity shares be credited to the respective beneficiary accounts of the shareholders with the depository participants, in lieu of the existing credits representing the equity shares of the Company before sub-division," said the company in a stock exchange filing.

"The share price of the Company has appreciated significantly since its listing on the stock exchanges (i.e. on BSE Limited), backed by creditable performance of the Company over the years coupled with the general positive economic environment. However, the shares of the Company are very thinly traded on the stock exchanges. With a view to encourage wider participation of retail investors by making it more affordable for them and to enhance the liquidity of equity shares of the Company in the stock market, the Board of Directors of the Company at their meeting held on April 30th, 2024, pursuant to the provisions of Section 61(1)(d), 64 and all other applicable provisions, if any, of the Companies Act, 2013 and the allied Rules framed thereunder and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, approved the sub-division/split of the equity shares of the Company from the face value of Rs 10/- per share to face value of Rs 1/- per share, subject to approval of the members and such other approvals as may be required," said Worth Investment & Trading Co in a regulatory statement.

"The record date for the aforesaid sub-division of equity shares shall be fixed by the Board (which expression shall also include any committee thereof or any other person(s) as may be authorized by the Board in that behalf) after the approval of the shareholders is obtained for the proposed sub-division," the company further informed to the stock exchanges.

Worth Investment & Trading Co News

"We would like to confirm you that our company "Worth Investment and Trading Company Limited" does not fall under the definition of "Large Corporate" as on 31st March, 2024, as per the criteria specified in para 2.2 of SEBI Circular reference no. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018," said Worth Investment & Trading Co in a regulatory filing on 30th April, 2024.

Worth Investment & Trading Co Share Price Target

"Worth Investment stock price is bullish but also overbought with next resistance at 349 on the Daily charts. Investors should book profits at current levels as Daily close below support of 290 could lead to a target of 232 in the near term," said AR Ramachandran from Tips2trades.

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