High Promoter Holding Stock Approves Stock Split: Do You Own?

Tejnaksh Healthcare Ltd is a small cap company that deals in the healthcare sector. Tejnaksh, an educational institution approved by the Ministry of Health and Family Welfare, offers top-notch medical care at 13 urology clinics, 4 urology hospitals, and 2 dentistry super-speciality clinics.

In order to enhance liquidity in the market, the company approved stock split for its eligible shareholders on 26.06.2023. "Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we would like to inform that, Members of the company accorded their consent for Splitting/ sub-division of Equity Share having face value of Rs. 10 /- each fully paid up into Equity Shares having face value of Rs. 5/- each," said Tejnaksh Healthcare in a stock exchange filing.

The company reported a standalone net income of Rs 1.76 Cr during March 2023 quarter compared to Rs 1.81 Cr in March 2022 quarter. Its net expenses reached Rs 1.55 Cr as against Rs 1.04 Cr in the same quarter of FY22. Tejnaksh Healthcare said in Q4FY23 it reported a net loss of Rs -0.07 Cr compared to a net profit of Rs 0.43 Cr in Q4FY22.

The shares of Tejnaksh Healthcare opened today at Rs 69.00 apiece on the BSE. At the current market price of Rs 68, the stock is trading at an upside gap of 2.01% from its previous close of Rs 66.66. The stock made a 52-week-high of Rs 163.00 on (29/06/2022) and a 52-week-low of Rs 58.99 on (27/03/2023), indicating that the current market price, the stock is trading 57.97% below the 1-year high and 15.27% above the 1 year low.

During Q4FY23, the company reported a promoter stake of 73.83% and a public stake of 26.17%. The promoter shareholding of Tejnaksh Healthcare at the current level is much higher than its peers such as Apollo Hospitals, Max Healthcare, Fortis Healthcare, Narayana Hrudayalaya, Dr Lal Pathlabs, Global Health, and Krishna Institute of Medical Sciences.