The listed company engaged in manufacturing of dry cells and batteries, Indo National has earlier on October 19, 2021 confirmed that the record date for the sub-division of face value of shares from Rs. 10 to Rs. 5 each fully paid as October 29, 2021. Likewise, the ex-date which is a day before has been today and thus the stock has turned ex-split.
The stock split is a corporate action undertaken so as to increase the liquidity in a company scrip. In stock split, market value/market capitalisation of the total outstanding shares of a company remains the same but market value of a single share is reduced in proportion to the number of shares extracted out of a single share.
For the investors who are invested into the stock which has splitted in FV it will mean more number of shares subsequent to the split. Now as the stock of Indo National trades ex-split, its price has been adjusted accordingly and the stock trades marginally lower towards the close of the trading session today.
The company recently announced a final dividend of Rs. 25 for the FY 21.
Indo National Ltd., incorporated in the year 1972, is a Small Cap company operating in Consumer Durables sector. The company's battery brand Nippo is the household brand.. The Company is into selling its power stations, batteries, compact fluorescent lamps, and other products in India. INL's 3-year return on equity CAGR was 13%, whereas the same was 11% for a decade. The company is nearly debt free with a good dividend track record.