1:10 Stock Split: Small Cap Stock Rallies Over 8% Intraday, Hits Fresh 52-Week High

Small cap stock operating in Chemicals sector, Sigachi Industries Ltd is on a gaining spree ever since board of directors of the company fixed record date for sub-division of shares in the ratio of 1:10. Current market price of Sigachi Industries stock is Rs 388.95 per share with intraday rally of 8.22% on BSE. Sigachi Industries shares also traded its fresh 52-week high on the bourses. Sigachi Industries share soared 54% in last 3-months. Check details below:

Sigachi Industries Announced Stock Split: The board of directors of the company in its regulatory filing dated September 9, 2023 stated, "With reference to the subject cited, this is to inform the Exchanges that the Board of Directors in its meeting held on 09.09.2023 has fixed 09.10.2023 as Record date for the purpose of Stock Split of existing 1 equity share of face value of Rs. 10/- each into 10 equity shares of the face value of Re. 1/- each."

Sigachi Industries Stock Outlook & Return: Current market price of Sigachi Industries stock on BSE is Rs 388.95 on BSE at 1:15 pm on Tuesday. Its 52-week high price is Rs 401.95 per share and 52-week low price is Rs 220.00 per share, respectively. The company has a market capitalisation of Rs 1195.73 crore. In last 6-months, Sigachi Industries shares soared 49%, gained 41% year-to-date, and rallied 27% in last 1-year.

Sigachi Industries About: Sigachi was incorporated in the year 1989 and established itself as one of the largest manufacturers of Microcrystalline Cellulose worldwide. With three Multilocational Facilities in Telangana and Gujarat , Sigachi has ensured supply chain reliability for its customers spread across the Globe. Its products have applications in the pharmaceutical industry, in the nutraceutical and supplement industries, the food ingredients industry and the drug formulation sector, according to its official website.

Disclaimer

The stock just highlights the rally in shares and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.