Three companies have announced stock splits recently. These companies are Arfin India Ltd, Maximus International, and Saksoft Ltd. When a company announces stock split, it leads to increased number of shares of that company with the market cap remaining same. The current shares split with the underlying value remaining similar. When the number of shares rise, the price per share declines.
The companies go for stock split to make the share more affordable for investors who may find it difficult to buy the shares of that company due to high prices. Check key takeaways below:
Arfin India Announces Stock Split
The board of directors of the company stated in its BSE filing, "In terms of the provisions of Regulation 30 (read with Part A of Schedule III) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, this is to inform that Board of Directors at its meeting held today i.e. September 19, 2022 has approved following; 1. Sub-division of each existing equity share of the Company having face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 10 (Ten) equity shares of face value of Rs. 1/- (Rupees One Only) each, subject to regulatory / statutory approvals as may be required and the approval of the shareholders of the Company. 2. Consequential amendments to the Capital Clause of the Memorandum of Association of the Company, subject to approval of the shareholders to be obtained by Postal Ballot."
Arfin India Ltd Stock Outlook, About The Company, And Market Capitalization
The current market price of the stock is Rs 253 apiece with an intraday decline of 4%. The stock's 52-week high is Rs 314 and 52-week low is Rs 59 apiece, respectively. It has a market capitalization of Rs 402 crore.
Arfin India Ltd commenced its operations in the year 1992, since then the company has periodically incorporated innovative production technologies and updated its methods to match current global standards ensuring over all optimization of its processes.
Maximus International Declares Record Date For Stock Split
The company's board of directors informed in its BSE filing, In terms of Regulation 42 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Monday, 3 rd October, 2022 as the 'Record Date' for the purpose of determining the eligibility of Shareholders for the purpose of sub-division of every 1 (One) fully paid-up Equity Share of the Company having face value of ₹ 10/- (Rupees Ten) each, into 10 (Ten) fully paid-up Equity Shares having face value of ₹ 1/- (Rupee one) each, as approved by the shareholders at the 7 th Annual General Meeting of the Company held on 19th September, 2022.
Maximus International Stock Outlook About The Company, And Market Capitalization
The current market price of the stock is Rs 475 apiece with an intraday gain of 2.16%. It has a market capitalization of Rs 597 crore. The company has given a return of 3485% in the last 5 years and 370% in last 1 year.
The company operates in petrochemical sector. The small cap company was incorporated in 2015. Maximus International Limited (MIL) is a subsidiary of Optimus Finance Limited (BSE Listed), a Vadodara based non-banking finance company registered by the Reserve Bank of India.
Maximus International Hits New 52-Week High Today
The stock has scaled a new 52-week high today at Rs 476 apiece. The stock's 52-week high is Rs 476 and 52-week low is Rs 86.
Saksoft Ltd Fixes Record Date For 1:10 Stock Split
The board of directors of the company has stated in its regulatory filing, "Pursuant to Regulation 42 of the SEBI (Listing & Disclosure Requirement) Regulations, 2015, the company has fixed Monday, September 26, 2022 as the "Record Date" for the purpose of ascertaining the eligibility of shareholders entitled for sub-division of 1 (one) equity share of the Company having a face value of Rs 10/- (Rupees 10 only) each fully paid up into 10 (Ten) equity shares having a face value of Re 1/- (Rupee One Only) each fully paid up."
Saksoft Limited Stock Outlook, About The Company, And Market Capitalisation
The shares of Saksoft gained 17% intraday. The current market price of the stock is Rs 1344 apiece. The company has a market capitalization of Rs 1344 crore. The company has given multibagger returns to investors. In the last 5 years, it has given a return of 560%, in last 3 years it has given a return of 412% and in last 1 year, the return is 35%.
Saksoft Limited is engaged in providing information technology solutions for business issues persisting in banking, financial and insurance sectors. The company has a market capitalization of Rs 1344 crore at the time of writing the report.
Saksoft Limited Hits New 52-Week High Today
The stock has scaled a new 52-week high today at 1376.55 apiece. The stock's 52-week high is Rs 1376 apiece and 52-week low is Rs 682 apiece, respectively.