1:10 Stock Split Coming May 8 Instead of April 21: Profit-Taking Opportunity Or Bull Trap?

Rajasthan Tube Manufacturing Company Limited is a leading manufacturer of HR sheets, galvanized steel tubes, black steel tubes, steel pipes and tubes, and other iron & steel products. Following the metal company's revision of the record date for its 1:10 stock split purpose, the shares of Rajasthan Tube Manufacturing Company finished the previous trading session on Friday 1.62% higher on the BSE at Rs 257 per share, with a market capitalization of Rs 115.85 Cr.

Rajasthan Tube Manufacturing Company Stock Split New Record Date

"With reference to our earlier intimation dated April 03,2025 about Fixing the Record Date for the purpose of split of shares would be Monday, April 21, 2025. In continuation to this, now it has been decided to make revision in record date and to change it from Monday, April 21, 2025 to Thursday, May 08, 2025. Therefore, in terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ["SEBI (LODR), Regulations"] and rules made there under, the new Record Date is now fixed for Thursday, May 08, 2025 as 'Record Date' for the purpose of determining the entitlement of Equity Shareholders for the purpose of Sub-division/Split of face value of Equity Shares of the Company," said Rajasthan Tube Manufacturing Company in a regulatory filing.

According to Rajasthan Tube Manufacturing Company, the record date has been set for figuring out the entitlement of equity shareholders for the purpose of splitting or subdividing the company's existing equity shares. This means that one equity share with a face value of Rs. 10/-each, fully paid-up, will be divided into ten equity shares with a face value of Re. 1/-each, fully paid-up.

Rajasthan Tube Manufacturing Company Q3 Financials

According to Moneycontrol, the company's December 2024 quarter net sales of Rs 17.61 crore represented a 33.41% reduction from the December 2023 quarter's net sales of Rs 26.44 crore. From Rs. 0.26 crore in the quarter ending in December 2023 to Rs. 0.28 crore in the quarter ending in December 2024, the company's net loss went down by 210.27%. From Rs. 0.64 crore in Q3FY24 to Rs. 0.07 crore in Q3FY25, EBITDA fell by 89.06%.

Rajasthan Tube Manufacturing Company Share Price Target

"Rajasthan Tube stock price is bullish but also very overbought on the Daily charts with the next resistance at 264. Investors should be booking profits as a Daily close below support of 244 could lead to a target of 222 in the near term," said A R Ramachandran, Independent Research Analyst.

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