6 Stocks To Split Soon: 6 Big Stocks Set To Get Affordable, Shares To Be Sub-Divided

6 leading companies recently recommended stock splits in order to make their shares affordable and attractive. Some of these companies have already fixed record date for sub-division of shares while some firms have yet to declare the record date. These are Avonmore Capital & Management Services, Canara Bank, Bharat Dynamics, Vardhman Polytex, KSB Ltd, and Premier Explosive. More details below:

1. Avonmore Capital Recommends 1:10 Stock Split: Small cap company operating in NBFC sector, Avonmore Capital & Management Services Limited shares declined 0.55% in trade on May 11 to settle at Rs 118.05 per share. Board of Directors of Avonmore Capital approved stock split in the proportion of 1:10 implying 1 share will be split into 10 new shares. Avonmore Capital shares gave return of 53% in last 6-months and 82% in last 1-year.

As per the regulatory filing of the company dated May 10, "The Board considered the proposal for sub-division of 1 equity share of the Company having face value of Rs 10/- each into 10 (Ten) equity shares having face value of Re 1/- each, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company."

2. Vardhman Polytex Declares Record Date For 1:10 Stock Split: Last trading price of Vardhman Polytex share on BSE is Rs 93.84 per share. Vardhman Polytex shares gave 62% return YTD and rallied 128% in last 1-year.
As per the BSE filing of the company issued post market hours today (May 6, 2024), "Pursuant to regulation 42 of SEBI (LODR) Regulations, 2015, it is hereby informed that the Board of Directors of the company has fixed "Saturday, 18" May, 2024" as the "Record Date" for the purpose of Sub-division/ Split of equity shares of the company having face value of Rs. 10/- each fully paid-up into 10 equity shares having face value of Re. 1/- each fully paid-up, ranking pari-passu with the existing shares in all respects, pursuant to the approval of shareholders by passing of Special Resolution dated 04th May, 2024 through Postal Ballot."

3. KSB Ltd Approves 1:5 Stock Split: After recommending highest ever dividend in more than 2 decades, small cap company from the industry of compressors, pumps, KSB Ltd approved 1:5 stock split on April 26 and yet to announce record date for the same. Current market price of KSB share on BSE is Rs 4568.05 per share. KSB Ltd share jumped 50% in last 1-year and 108% in last 1-year. The company's market capitalisation is Rs 15,900.40 crore.

As per the April 26, 2024 BSE filing, "Approval of sub-division/split of 1 (One) equity share of the Company having nominal/face value of INR 10 each (Rupees Ten only), into 5 (Five) equity shares of INR 2 each (Rupee Two only), subject to approval of the Members of the Company and any other regulatory authorities, if any; and further approved consequential alteration of the Capital Clause i.e., Clause V of the Memorandum of Association of the Company, subject to the approval of the Members of the Company. (Annexure-1)."

4. Bharat Dynamics shares To Ex-Split On May 24: Mid cap defence public sector undertaking (PSU) Bharat Dynamics fixed May 24, 2024 as the record date for 1:2 stock split/sub-division of share. Last trading price of Bharat Dynamics share on BSE is Rs 1860.75 per share with intraday fall of 0.27%. The market cap is Rs 34,104.06 crore. Bharat Dynamics shares gave return of 77% in last 6-months and 85% in last 1-year.

As per the regulatory filing of the company dated April 29, 2024, "we wish to inform you that, the Company has fixed Friday 24 May, 2024 as the Record Date for the purpose of determining the eligibility of shareholders for sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up."

5. Premier Explosive Approves 1:5 Stock Split: Small cap stock from the defence sector, Premier Explosives Ltd recommended 1:5 stock split. Record date is yet to be issued for the same. Last trading price of Premier Explosives share on BSE is Rs 2228.65 per share. The market cap is Rs 2396.30 crore. Premier Explosives shares gave return of 77% in last 6-months and zoomed 414% in last 1-year.

According to the BSE filing dated April 19, "The sub-division / split of existing 1 (one) Equity Share of face value of Rs.10 (Rupees ten only) each, fully paid up into 5 (Five) Equity Shares of face value of Rs. 2/- '(Rupees Two only) each, fully paid up by alteration of Capital Clause of the Memorandum of Association of the Company, subject to the approval of the members of the Company to be sought by means of Postal Ballot. The Record Date for the purpose of sub-division/split of existing equity shares will be intimated in due course."

6. Canara Bank Stock Split: Canara Bank has already recommended 1:5 stock split and fixed May 15 as the record date for sub-division of shares. Last trading price of Canara Bank share on BSE is Rs 548.20 per share. The market cap is Rs 99,450.62 crore. Canara Bank shares gave return of 41% in last 6-months and 82% in last 1-year.
As per the regulatory filing of Canara Bank dated April 19, 2024, "this is to inform you that the Bank has fixed Wednesday, 15th May 2024 as the "Record Date" for determining entitlement of Equity Shareholders for the purpose of sub division/ split of existing Equity Shares of the Bank, such that 1 (one) equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid up, will be sub-divided into 5 (Five) equity shares having face value of Rs. 2/- (Rupees Two only) each, fully paid up, ranking pari-passu in all respects, which was approved by the Reserve Bank of India (RBI).

Disclaimer:

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