This Multibagger Stock To Turn Ex-split On April 19,2022: Check Details

This multibagger stock with 1-year return to the tune of 1148%- Diligent Industries is into the manufacturing, processing and trading of edible oils, food, feeds and agriculture commodities in India. The company listed on Bombay Stock Exchange (BSE) in the year 1995. At the current levels, the stock is priced at Rs. 102.5, while the stock's 52-week low and high are Rs. 6.11 and Rs. 107.9 per share, respectively.

About Diligent Industries Stock Split

The company has announced stock split i.e. split in the face value to a new FV of Rs. 1 from the earlier Rs. 5 signifying the invested community will get more number of shares in the ratio of the split. The split is enacted to make the stock more affordable as after the split, the stock price gets reduced in proportion to the number of shares extracted out of a single share.

Company's fundamentals and financials

The company considering the price to earnings looks overvalued and in fact the sector's P/E is a threat with a negative price to earnings.

The company's financials have improved given the increase in total revenue from operations YoY. Also, the company has turned profitable over the year with net profit for the December ended quarter reported at Rs. 0.62 crore as against Rs. 0.57 crore. Also, there is no red flag in respect of the stock.

The company's peer companies are the much hyped Ruchi Soya, Agro Tech, AVT Natural, Manorama Industries.

 

Stock split details

The stock shall turn ex-split tomorrow on April 19 while record date i.e. the date for determining shareholders who will be eligible to receive those smaller shares post the split is April 20, 2022.

Disclaimer

The stock is just detailed here for its stock split and it is not a call to buy into the share which though over the year has yielded a handsome multibagger return. Remember here past performance is no guarantee of similar outperformance by the company.