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Multibagger Small Cap Textile Stock To See Stock Split This Month, Check Record Date
Leading Indian conglomerate, Mafatlal Industries Ltd has today fixed record date for stock split. The textile sector company has a market capitalisation of Rs 518 crore. The stock has given multibagger returns with maximum return 447% in last 3-years. Check key takeaways below:
1. 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.
2. Mafatlal Industries Ltd Sets Record Date For Stock Split
The board of directors of the company stated in the BSE filing, "We would like to inform you that the Committee of the Board of Directors of the Company has fixed Friday, 25th November, 2022 as the Record Date for determining the eligibility of shareholders, with regards to the Sub-division (Split) of existing Equity Shares of the Company from One (1) equity share having a face value of Rs. 10/- each (fully paid-up) into Five (5) Equity Shares of face value of Rs. 2/- each (fully paid-up), as approved by the shareholders through postal ballot by way of electronic means on 7th November 2022."
The record date for the stock split is November 25, 2022.
3. Mafatlal Industries Ltd Stock Outlook
The current market price of the stock is Rs 368 apiece with 52-week high at Rs 408 apiece and 52-week low at Rs 153 apiece, respectively. The stock gained 0.59% intraday.
4. Mafatlal Industries Ltd Returns
The stock has given 59% return in last 3-months, 106% return in last 1-year, and 447% return in last 3-years. It has surged 18% in last 5-years. The stock has given 101% in 6-months only.
5. Mafatlal Industries Ltd About
The Arvind Mafatlal Group is a 117-year-old Indian conglomerate having interests in the diverse fields of Textiles, Rubber Chemicals, Information Technology, Real Estate, E-commerce, and Healthcare. Two of the flagship companies of the Group are Mafatlal Industries and NOCIL Limited, and they are both listed on the stock exchange.
Disclaimer
The stock gives details related to stock split scheduled to take place later this month. Greynium Information Technologies and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.
