Stock Under Rs 30 Sets Record Date For 1:2 Stock Split; What Investors Need To Know?

Mangalam Global Enterprise Ltd. is an Indian company that specialises in the production and distribution of edible and non-edible oils as well as a range of agricultural products, including cotton bales, wheat, rice, mustard oil, and refined castor oil, both domestically and abroad. They also operate in the business-to-consumer (B2C) market under the "Lagnam" brand for some edible oil products, such as refined soyabean oil and strong mustard oil. With a market valuation of Rs 431.55Cr, Mangalam Global Enterprise's shares are trading close to Rs 26 on the stock markets on Wednesday. The penny stock is probably going to be the focus of attention today as the business announced the record date for a 1:2 stock split.

Mangalam Global Enterprise Stock Split

To determine the eligibility of members for the purpose of sub-division/split of every 1 (One) equity share of face value of Rs. 2/- each into 2 (Two) shares of Rs. 1/- each, the Board of Directors has fixed Record Date for the purpose of 1:2 stock split as approved by the shareholders by Postal ballot on February 16, 2025, said Mangalam Global Enterprise in a stock exchange filing.

Mangalam Global Enterprise Financials

The business recorded net sales of Rs 465.77 crore for the December 2024 quarter, which was 7.02% less than the Rs 500.96 crore for the December 2023 quarter. In the December 2024 quarter, its net profit was Rs. 6.01 crore, rising 47.63% from the December 2023 quarter's Rs. 4.07 crore. EBITDA increased 50.78% from Rs. 10.87 crore in Q3FY24 to Rs. 16.39 crore in Q3FY25.

Mangalam Global Enterprise Share Price Target

"Mangalam Global stock price is slightly bullish on the Daily charts with strong support at 23.24. A Daily close above resistance of 26.3 could lead to a target of 30 in the near term," commented A R Ramachandran, Independent Research Analyst.

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