Stock Split/Sub-Division: Agro Stock Approves 1:5 Stock Split, Zooms 97% In 1-Yr

Small cap company operating in the Agro Processing sector Manorama Industries Ltd shares today declined more than 7% despite the company approving stock split in the ratio of 1:5. Manorama Industries shares witnessed the surge of 17% in last 6-months and rallied 97% in last 1-year. The company has a market capitalisation of Rs 2437.30 crore.

What Is Stock Split? When a company announces stock split, it leads to increased number of shares of that company with the market cap remaining same. The current shares split with the underlying value remaining similar. When the number of shares rise, the price per share declines. The companies go for stock split to make the share more affordable for investors who may find it difficult to buy the shares of that company due to high prices.

Manorama Industries Ltd Approves Stock Split: As per the BSE filing of the company dated Jan 15, 2024, "Sub- Division /Split of the Equity Shares of the Company having face value of Rs 10/- (Rupees Ten only) each into 5 (Five) equity shares having face value of Rs 2/-(Rupees Two only) each, subject to regulatory/statutory approvals and approval of the members as required under Section 61 of the Companies Act, 2013."

Manorama Industries Share Outlook & Return: The stock's 52-week high price is Rs 2399.95 per share and 52-week low price is Rs 894.35 per share, respectively. Manorama Industries stock declined 7.20% in last 1-month, gained 97% in last 1-year, rose 48% in last 2-years, and offered gain of 222% in last 3-years. In last 5-years, Manorama Industries shares rose 964%.

Manorama Industries About: Established in 2005 and backed by a strong pedigree of over 4 decades in the industry, it has established a vast geographic sourcing network for raw materials. Manorama Industries Limited was established with the aim to become a one-stop shop for tree-based specialty oils and fats, according to its official website.

Disclaimer: The stock highlights the stock split and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.