1:5 Stock Split: Small Cap Chemical Stock Approves, Hits 52-Week High

Board of small cap chemical stock, HP Adhesives Ltd on September 4, 2023 approved stock split in the proportion of 1:5. Soon after the small cap stock's board gave its nod to stock split, shares of HP Adhesives shares hit fresh 52-week high on the bourses. Last trading price of HP Adhesives stock on BSE is quoted at Rs 535.10 apiece after an intraday gain of 1.11%. Check details pertaining to the stock and sub-division of shares:

Board Of HP Adhesives Considers & Approves Stock Split: According to the BSE filing of HP Adhesives dated September 4, 2023, "In Compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, we wish to inform you that the Board of Directors in its meeting held on 4th September, 2023 has inter alia considered and approved the following:

1. Alteration in Capital of the Company by Split/Sub-division of 1 (One) Equity Share of the Company having face value of Rs. 10/- each into 5 (Five) Equity Shares of the Company having face value of Rs. 2/- each. Details of Split/ Subdivision of shares in terms of SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 are attached as Annexure -A; and

2. Alteration of the Capital Clause i.e., Clause V of the Memorandum of Association of the Company ("MoA").

Subject the approval of the Shareholders of the Company in the forthcoming 4th Annual General Meeting of the Company.

Earlier, the company issued a BSE filing on August 17 notifying its shareholders the decision to split the shares.

HP Adhesives Stock Performance & Return: Last trading price of HP Adhesives share on BSE is Rs 535.10 apiece. Its 52-week high price is Rs 546.35 per share and 52-week low price is Rs 309.80 per share, respectively. The company has a market capitalisation of Rs 983.24 crore. HP Adhesives stock witnessed a surge of 11.06% in last 1-month, soared 22% in last 3-months, and rallied 63% in last 6-months. HP Adhesives shares surged 41% year-to-date and gained 18% in last 1-year.

HP Adhesives About: HP Adhesives is a leading provider of adhesives and sealants, headquartered in India. The company was founded by entrepreneur Mr. Haresh Motwani, during the early stages of the plastic industry and has since grown into a brand in plumbing adhesives. HP Adhesives established a strong presence in over 40 countries. With a diverse product portfolio, the company has leveraged partnerships with various companies across Asia, the Gulf, the United States, Africa, and Europe to bring its products to a global stage, according to its official website.

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