Axita Cotton 1:10 Stock Split Record Date Tomorrow: Share Up 100% In 6 Months

The management of multibagger company Axita Cotton Ltd. has fixed the record date for its stock split tomorrow, on October 21, 2022. The textile company is set to initiate a stock split in 1:10 ratio. The existing Rs. 10 per equity share will be split into 10 shares of Re. 1 per equity share. The company's share price stood at 366 a piece, at the time of writing, today.

The company informed the stock exchanges, "The Members of the Company in their 9th (Ninth) Annual General Meeting approved sub-division of every 1 (One) Equity Share of the nominal/face value of ₹10/- each into 10 (Ten) Equity Share of the nominal/face value of Re 1/- each."

Axita Cotton - stock performance on NSE

In the last 1 month, the share price of Axita Cotton gained by 17.36%, in the last 6 months its share price gained by 100.93%. Additionally, in the last 5 years its share price gained by 87.93%.

The 52-week high level of this stock is Rs. 395.40, and the 52-week low level of this stock is Rs. 170.05.

When a company decides to increase its number of outstanding shares, it announces a stock split. So, the stock's share price falls accordingly, without changing the market-cap, and it will be more affordable for the new investors.

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