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2 Stocks To See Stock Split This Month In July 2022
Stock split or sub-division of stocks is mulled by a listed company to make its scrip more affordable for retail investor class. Consequently as more investors can enter the scrip post the split, the investor base in the company increases. So, as there is propelled fresh investor interest into the firm, shares of the entity see an up-move in the short term.
Likewise, here are the 2 stocks slated to meet stock division this month i.e. in July 2022
Steel Exchange
The change in the FV shall be from 10 to the new face value of 1. The ex-date for the same is July 12 and record date is July 13, 2022. This implies to be eligible to receive the additional shares as a result of the split you need to own it by July 13 i.e. it should be in your portfolio as on July 13, 2022.
Steel Exchange is a small cap Iron and steel products segment company. The company established in the field of iron and steel manufacturing is Andhra Pradesh's largest private integrated steel plant. The company aims to grow as a quality steel product hub, increasing the customer base and clientele organizations.
In the Fy22, total revenue as well as net income declined YoY to Rs. 1119.74 crore and Rs. 116.48 crore, respectively. Also, over a 5-year period, the company has been registering negative free cash flow growth.
The scrip last traded higher by close to 4% at Rs. 175.9 per share on the NSE.
Renaissance Global
This is a jewellery segment diamond cutting enterprise. This is again a small cap scrip with a m-cap of Rs. 1121 crore. The firm has announced stock split from a FV of Rs. 10 to a new FV of Rs. 2 per share. The ex-date for the same is July 19 and the record date is July 20, 2022.
Renaissance Global in existence for over 25 years now is into exquisite jewellery designing for its marquee customer base across the globe. The company is a licensee for 2 global brands namely-Hallmark and Disney.
Considering the stock's fundamentals, relative to the sector PE, the stock commands a low PE of 10.33.
The company's net income for the Fy22 has over doubled in comparison to the last year to Rs. 105.78 crore. The company's debt to equity is at 0.61.
The stock currently is trading close to its 52-week low price of Rs. 530 per share. The last traded price for the scrip is Rs. 596
Disclaimer
The above 2 stocks are collated just for the likely stock split action planned for them. This should not be construed as an investment advice in them.
