5:1 Stock Split Announced: Target Rs. 1050-1250; Buy Keeping SL At Rs. 760?

From equity and commodities to mutual funds and IPOs, access wide range of investment options, Swastika Investmart deals as an online trading platform in India. The company has declared financial results for the quarter ended June 30th 2024. Along with earnings, the company has declared a 5:1 stock split in order to enhance the liquidity of equity shares of the company in the stock market and to encourage the participation of retail investors by making it more affordable.

Swastika Investmart Stock Split

The Board of Directors of the company held on Saturday, 20th July, 2024, considered and approved "Split of fully paid up equity shares of the Company having face value of INR 10/- (Rupees Ten Only) each, into 5 (Five) Equity shares having face value of INR 2/- (Rupees Two only) each fully paid up, subject to approval of members of the Company through postal ballot and other statutory/regulatory authorities, as may be required," said the company in a regulatory filing.

The record date for the above-said corporate action will be announced in due course.

Swastika Investmart Financials

In the quarter that ended in June 2024, Swastika Investmart's net profit climbed 264.53% to Rs 6.27 crore from Rs 1.72 crore in the quarter that ended in June 2023. Sales for Q1FY25 increased 74.46% to Rs 38.52 crore from Rs 22.08 crore in Q1FY24.

Swastika Investmart Share Price Target

"Online trading platform Swastika Investment is currently trading in overbought condition at Rs. 890. So, I advise those keen on exploring this micro-cap stock to limit their exposure to it for now. I would encourage them to wait for a dip and explore price averaging or dip buying opportunities when its price is near Rs. 800. Those interested in betting on this stock can consider the buying range of Rs. 820-850 for a target price of Rs. 1050-1250, over a holding period of 3-8 weeks. However, they must follow a strict stop loss of Rs. 760 to limit their exposure to market risks," recommended V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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