4:10 Bonus Shares & 1:10 Stock Split: Record Date On December 10; BUY?

An Indian company engaged in the pharmaceutical industry is Achyut Healthcare Limited. The company's headquarters are in Ahmedabad, Gujarat, and it was incorporated in 1996. The business trades in Nigeria, Kenya, and the United Arab Emirates (UAE), among other domestic and foreign markets. The corporation deals with active pharmaceutical ingredients (API), medical equipment, and pharmaceutical products. Following the Board of Directors' announcement of the record date for 4:10 bonus shares and 1:10 stock split, Achyut Healthcare's shares wrapped up on Tuesday at a 10% upper circuit limit at Rs 82.28 per share, with a market capitalisation of Rs 138 Cr.

Achyut Healthcare Record Date For Bonus Shares & Stock Split

For the purpose of sub-division of one equity share of face value of Rs. 10/- each into ten equity shares of face value of Re.1/- each and issue of bonus share in the ratio of 04:10 i.e. four new bonus equity shares of Re.1/- each for every ten existing fully paid up equity shares of Re.1/- each, held post sub-division, the Board of Directors have declared Tuesday, December 10, 2024 as the record date, Achyut Healthcare said in a stock exchange filing.

Achyut Healthcare Financials

The company reported a net revenue of Rs 6.86 Cr in FY24 which was Rs 3.29 Cr in FY23 whereas expenses stood at Rs 6.12 Cr as against Rs 2.98 Cr in the previous fiscal. Achyut Healthcare said its net profit reached Rs 0.57 Cr in FY24 compared to Rs 0.23 Cr in FY23 and EPS was flat at Rs 0.34. Half-yearly figures show that, in comparison to Q2FY24, net sales rose 44% to Rs 2.13 crore and net profit rose 35% to Rs 1.48 crore in Q2FY25. The firm recorded a net revenue of Rs 6.14 crore and a net profit of Rs 0.66 crore in its annual results (FY24).

Achyut Healthcare Share Price Target

"Achyut Healthcare stock price is bearish on the Daily charts with strong resistance at 86. A Daily close below support of 73 could lead to a target of 58 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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