1:6 Stock Split: July 23 - Record Date; An Affordable Stock For Attractive Gain?

With a market valuation of Rs 440 Cr, Almondz Global Securities is a small-cap company in the financial services sector. Listed since 1994, Almondz Global Securities Limited provides wealth management advisory, equity broking and depository participant services in the financial services industry. The firm is a member of the following: Central Depository Services (India) Ltd. (for depository services); Bombay Stock Exchange Limited (BSE); and National Stock Exchange of India Limited (NSE). Additionally, the company has been a Mutual Fund Distributor registered with AMFI since February 17, 2003. Its registration number, 1308, is valid until February 11, 2025.

Almondz Global Securities Record Date For Stock Split

"The Board of Directors of the Company through resolution passed by circulation on July 8, 2024, have fixed "Tuesday, July 23, 2024" as the "Record Date" for the purpose of sub-division/ split of existing Equity Shares of the Company, such that 1 (one) equity share having face value of Rs. 6/- (Rupees Six only) each, fully paid-up, be sub-divided/split into 6 (Six) equity shares having face value of Re.1 /- (Rupee One Only) each, fully paid- up, ranking pari- passu in all respects, pursuant to the shareholders' approval received through postal ballot by way of remote e-voting on Thursday, July 4, 2024 (being the last date of remote e-voting)," the company said in a stock exchange filing.

Almondz Global Securities Financials

According to the quarterly financial statements, Almondz Global Securities Ltd. brought in Rs 45.41 crore in revenue during the fourth quarter of FY24. For Q4 of FY24, the net profit was Rs 6 crore. In terms of yearly performance, the firm made Rs 116 crore in revenue in FY24 as opposed to Rs 76 crore in FY23, and it made Rs 34 crore in net profit as opposed to Rs 16 crore in FY23. Almondz Global Securities is yet to declare its Q1FY25 results.

Almondz Global Securities Share Price Target

"Listed financial services provider Almondz Global Securities (ALMONDZ) is currently trading in an overbought condition but continues to display strong momentum. Those interested can consider buying within the Rs. 150-170 price range for a price target between Rs. 200 and Rs. 350. For this stock, I recommend a holding period between 4 and 60 weeks while closely following a stop loss of Rs. 130 to prevent exposure to high risks," commented V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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