Small Cap Stock In Focus As Board To Approve To Stock Split; Do You Own?

One of the major companies in the global crane rental market is Sanghvi Movers Limited headquartered in Pune. According to International Cranes, the firm is the largest crane rental company in India and Asia and the sixth largest globally. With its depot network dispersed over more than ten states in India, it has a PAN India presence. On Monday, the shares of Sanghvi Movers were trading 4% higher at Rs 1335.05 apiece on BSE after the company declared that the Board of Directors will meet on 16th May to consider and approve the proposal for stock split.

"Pursuant to Regulation 29 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that a meeting of the Board of Directors of Sanghvi Movers Limited will be held on Thursday, 16 May 2024, to consider inter-alia following businesses: 1. Standalone and Consolidated Audited Financial Results for the quarter and year ended on 31 March 2024; 2. The recommendation of dividend, if any, on equity shares for the financial year ended 31 March 2024, subject to the approval of shareholders at the ensuing Annual General Meeting; 3. To consider and approve the proposal of sub-division/split of Equity Shares of the Company, in such manner as may be determined by the Board of Directors along with other allied matters subject to approval of the Shareholders and other necessary approvals," said Sanghvi Movers in a regulatory filing.

"The intimation towards closure of trading window has already been submitted to the stock exchanges vide letter no. REF: SML/SEC/SE/23-24/78 dated 28 March 2024. The Company has already communicated about closure of trading window to the designated persons in accordance with the Code of Conduct of the Company. In terms of SEBI (Prohibition of Insider Trading) Regulations, 2015, Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) circular/(s) and Code of Conduct of the Company, the Trading Window for dealing in the Securities of the Company is closed with effect from Monday, 01 April 2024 until 48 hours after the declaration of the Audited Financial Results of the Company for the quarter and year ended on 31 March 2024, i.e. up to Saturday, 18 May 2024," Sanghvi Movers further informed to the stock exchanges.

The stock touched a 52-week-high of Rs 1,430.00 (24/04/2024) and a 52-week-low of Rs 366.15 (25/05/2023), indicating that the shares of Sanghvi Movers gained 264.38% from 52W Low. Trendlyne's data shows that the stock price climbed by 227.16% last year, outperforming its sector by 127.1%. Its price-to-earnings ratio, at 33.15, is lower than the sector PE ratio of 33.26. The stock returned 921.4% during a three-year period, while the Nifty Smallcap 100 returned 92.33%. The stock price has gone up at a CAGR of 217% and an ROE of 12% during the past year.

During Q4FY24, the company reported promoters' shareholding of 47.25%, FIIs stake of 2.49%, DIIs stake of 2.59% and public stake of 47.67%.