This Penny Stock Rallied Massively By 567.32% In 1-Year, Announced Stock Split

Share price of Sylph Technologies Ltd has rallied massively by upto 567.32% in just one year. Recently on March 20, 2023, the company informed through exchange filing that the board has approved the sub-division or stock split of equity shares. The details are given below.

According to the exchange filing of Sylph Technologies Ltd, "the Board considered the proposal for sub-division of 1 equity share of the Company having face value of Rs10/- each into 10 (Ten) equity shares having face value of Rs 1/- each, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company."

Regarding the record date, the company mentioned that, "The record date for the sub-division of equity shares shall be decided by the board and will be intimated to the exchanges."

The company even mentioned the rationale behind the split. To enhance the liquidity in the capital market, to widen shareholder base and to make the shares more affordable to small investors.

Sylph Technologies Ltd was incorporated in the year 1992. It is a small medium enterprise with expertise in business processing outsourcing segment. It outsources software development, develops custom applications, and develops e-commerce and wireless/mobile business solutions. It's current market capitalisation is Rs 51.11 crore.

The latest trading price of the stock is Rs 34.30 per share, which is down by 2% over previous day's closing price. Its 52-week high is at Rs 53 per share and 52-week low is at 4.90 per share. In one year the share price has rallied massively by 567.32% and in three years it has moved up by 333.63%.

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