Board of directors of three companies have approved stock split. These companies are Anjani Foods Ltd, PDS Ltd, and Alfavision Overseas (India) Ltd.
What Is Stock Split: 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 details below:
1. Anjani Foods Ltd Approves Stock Split
The board of directors of the company approved stock split on August 12, 2022 and said in the BSE filing, "The Board of Directors ('the Board') have considered and approved a proposal to sub-divide (split) the 80,00,000 equity shares of the company from their existing face value of Rs. 10/- each in to the face value of Rs. 2/- each. The details required under Para 2.2 of the Annexure 1 to the Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 under the above-mentioned Regulation in respect of the proposed split are given in the Annexure. Pursuant to the proposed split of the face value of equity shares, the Board has approved a proposal to substitute the existing Clause V of the Memorandum of Association of the Company with the following: Clause V of the Memorandum of Association: 'The Authorised Share Capital of the Company is Rs. 8,00,00,000/- (Rupees Eight Crores Only) divided into 4,00,00,000 (Four Crores) Equity Shares having face value of Rs. 2/- (Rupees Two) each.'
The current market price of the stock is Rs 104 apiece with a decline of 1.55%. The 52-week high of the stock is Rs 235 and 52-week low is Rs 66.10. The company has a market capitalization of Rs 58.50 crore.
Multibagger returns: The stock has given multibagger returns with 470% return in 5 years, 1600% return in 3 years, and negative return of 50% in 1 year.
About The Company: Anjani Foods Limited (AFL) is one of the pioneers & leading bakery food-on-the-go retailers & bakery product distributors in Andhra Pradesh, with over a variety of diverse retail & distribution outlets spread across five districts from Srikakulam to Godavari.
2. Alfavision Overseas (India) Ltd Fixes Record Date For Stock Split
The board of directors of the company on August 6 informed BSE about stock split. The company said in its regulatory filing, "ALFAVISION OVERSEAS (INDIA) LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/08/2022 ,inter alia, to consider and approve l. To consider and approve the Quarterly Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended on 30th June,2022. 2. To take on record Limited Review Report on Quarterly Unaudited Standalone and Consolidated Financial Results for the quarter ended on 30th June,2022. 3. To consider fixing of record date in connection with Sub-division (split) of 1 (one) Equity Share of the Company having a face value of Rs. 10/- each (fully paid-up) to be sub-divided into 10 (Ten) Equity Shares of face value of Re. 1/- each (fully paid-up)"
Now the company has informed BSE about the record date when the stock split will take place. The board of directors said, "Pursuant to Reg. 42 of the Listing Regulations and relevant provisions of the Companies Act, 2013 and Rules made thereunder, the Company has fixed Monday, August 29, 2022 as the 'Record Date' for the purpose of determining the eligibility of Shareholders for subdivision/split of face value of the equity shares of the Company from face value of Rs.10/- per share to face value of Rs.1/- per share."
The current market price of the stock is Rs 240 apiece with a decline of 4.51% on August 12, 2022 trading. The 52-week high of the stock is Rs 299 apiece and 52-week low is Rs 38 apiece. The company has a market capitalization of Rs 75 crore.
Multibagger returns: The stock has given multibagger returns with 345% return in 5 years and 517 return in 1 year.
About The Company: Alfavision Overseas (India) Limited is engaged in agricultural based activities and producing herbals medicines. It produces fruits, vegetables, root and tuber crops, flowers, ornamental plants, medicinal and aromatic plants, spices, plantation crops and mushrooms, among others. It came into existence in June, 1994.
3. PDS Ltd Fixes Record Date For Stock Split
The Company has fixed Monday, August 29, 2022 as the Record Date for determining the eligibility of Shareholders for sub-division /split of Equity Shares of 1 (One) Equity Share having Face Value of ₹10/‐ each into 5 (Five) Equity Shares having Face Value of ₹2/‐ each, pursuant to Regulation 42 of SEBI Listing Regulations.
The current market price of the stock is Rs 1737 apiece with a gain of 1.85% in August 12 trading. The 52-week high of the stock is Rs 2099 apiece and 52-week low is Rs 1133 apiece. The company has a market capitalization of Rs 4534 crore.
Multibagger Returns: The stock has given 611 returns in 5 years, 428 returns in 3 years, and 24% return in 1 year.
About The Company: PDS Ltd came into existence in 2011. The company operates in the miscellaneous sector. It is a textile sector company and engaged in the trading of textile products.