1:5 Split Coming On May 9: Is This Stock The Next Multibagger Under Rs 100? Why Traders Are Watching?

An Indian business called Shantai Industries primarily operates in the textile and apparel manufacturing sector, with a focus on textiles, synthetic textile exports, as well as garments. The firm was founded in 1985 and is a textile pioneer with a notable presence in the export of fine garments and synthetic textile products. With a market valuation of Rs 11.17 Cr, the shares of Shantai Industries were trading at a 5% upper circuit limit on Tuesday at Rs 74.49 per share on the BSE. The reason traders were keeping an eye on this stock was because the Board had announced the record date for its next 1:5 stock split corporate action move.

Shantai Industries Stock Split

For the purpose of sub-division of 1 equity share of the company of the face value of Rs. 10/- each fully paid up into 5 equity shares of the company of face value of Rs. 2/- each fully paid up, the Board of Directors has fixed Friday, May 09, 2025 as the record date as per a stock exchange filing dated April 14, 2025.

"We hereby inform you that the Board of Directors of the Company, in their Board Meeting held on today, i.e. on Monday, April 14, 2025, at the Registered Office of the Company, which was commenced at 04:00 P.M. and concluded at 04:30 P.M., have approved the Record date for sub-division of 1 (One) Equity Share of the company of the face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 5 (Five) Equity Shares of the Company of face value of Rs. 2/- (Rupees Two Only) each fully paid up," said Shantai Industries in a regulatory filing.

Shantai Industries Financials

For the quarter ending in December 2024, Shantai Industries reported a net profit of Rs 0.10 crore, whereas for the quarter ending in December 2023, the company reported a net loss of Rs 0.06 crore. Sales for the quarter that ended in December 2024 totaled Rs 8.22 crore. The firm did not make any revenue for the quarter that ended in December 2023.

Shantai Industries Share Price Target

"Shantai Industries' stock price is slightly bullish on the Daily charts with strong support at 64.42. A Daily close above resistance of 77 could lead to a target of 84.5 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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