Multibagger Stock Hit 2% Upper Circuit As Board To Mull Stock Split: Buy Ahead of Split of Shares?

With a market valuation of Rs 475.75 Cr, Remsons Industries is a small-cap company in the consumer discretionary industry. The stock opened on the BSE on Monday at a 2% upper circuit limit at Rs 832.70 apiece. One of Dalal Street's multibagger stocks, Remsons Industries has given shareholders returns of over 250% in only a single year. But, the more intriguing news is that the company's board of directors has notified exchanges about their plan for a stock split.

Remsons Industries Stock Split

"Pursuant to the provisions of Regulation 29(1)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, 27th February, 2024, inter alia to consider Sub- Division /Split of the Equity Shares of the Company in such manner as may be determined by the Board of Directors, subject to approval of the members of the Company and such other regulatory / statutory approvals as may be required in this regard," said Remsons Industries in a stock exchange filing.

Remsons Industries Share Price History

The stock price has gone up by 725.68% during the previous five years, from Rs 75 to today's market price. The stock price climbed by 568.30% in the previous three years, from Rs 122.20 to its current market price. The stock price soared from Rs 232.35 to the current market price in the last year, yielding a multibagger return of 256.45%. Year-to-date, the share has gained 20.38% so far in 2024. The stock has produced a multibagger return of 115.68% during the past six months. The scrip reached a 52-week-high of Rs 848.00 on (11/01/2024) and a 52-week-low of Rs 182.00 on (28/03/2023).

Remsons Industries Share Price Target

Remsons Industries is bullish on the Daily charts with strong support at 782. A Daily close above resistance of 845 could lead to a target of 930 in the near term, said AR Ramachandran from Tips2trades.

About Remsons Industries

Remsons has been a leader in the automobile sector for the past 50 years, producing high-quality products such as winches, jacks, gear shifters, control cables, and pedal boxes. The firm is an OEM manufacturer that supplies automobile OEMs worldwide as well as two-, three-, and four-wheeler vehicles, commercial vehicles, and off-highway vehicles across India. To name a few, it also manufactures Pedal Boxes, Winches, Gear Shifters, Flexible Shafts, Jack Kits, and Parking Brake Cable Assemblies. It has gradually broadened the scope of its global operations over the past 50 years, reaching more than 20 nations in Europe, Asia, and the US and has partnerships with other major automobile manufacturers and sales offices in the US, Germany, and Italy.