FMCG Stock To Get Cheaper After 10:1 Stock Split: 1st October Record Date; BUY/SELL?

Integrated Industries Limited (ITL), which was incorporated in 1995, is currently engaged in the sale of bakery items, processed foods, and both organic and inorganic food products. The company distributes its products throughout the whole North Indian region, including J&K, Himachal, Punjab, Rajasthan, Uttrakhand, Delhi NCR, and Uttar Pradesh, thanks to a strong network of more than 150 business partners. The product is highly well-liked not only in the domestic market but also in foreign markets, including the UAE, Somalia, Tanzania, Kuwait, Afghanistan, Congo, Kenya, Rwanda, and Seychelles.

Integrated Industries Stock Split

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has fixed Tuesday, 1st October, 2024 as the "Record date" for determining eligibility of members for the purpose of sub-division of the equity shares of the Company from Face Value of Rs. 10/- each fully paid-up to Face Value of Rs. 1/- each fully paid-up," said the company in a stock exchange filing.

Integrated Industries Financials

Integrated Industries' net profit climbed 1009.40% to Rs 12.98 crore in the June 2024 quarter from Rs 1.17 crore in the same June 2023 quarter. In the quarter that ended in June 2024, sales increased 619.47% to Rs 140.08 crore, compared to Rs 19.47 crore in the quarter that ended in June 2023.

Integrated Industries Share Price Target

"Integrated Industries stock price is bearish on the Daily charts with strong resistance at 41.2 A Daily close below support of 378 could lead to a target of 339 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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