Rs. 1 Final Dividend, 1:10 Stock Split: Record Date In Due Course of Time; BUY/SELL?

One of the top providers of a broad range of financial services is Systematix Corporate Services, which also offers debt products (primary markets), IPOs, mutual funds, commodities, currency derivatives, derivatives, and equity products. Retail investors, ultra HNIs, HNIs, insurance companies, bank treasuries, corporates, corporate treasuries, promoters, and foreign institutional investors are merely a few of the many clientele that Systematix serves. Investment banking, merchant banking, broking, wealth management, portfolio management services, NRI services, e-broking, and depository services are among the products and services offered by the organisation.

Systematix Corporate Services Dividend

At the Annual General Meeting (AGM) of the company held on September 26, 2024, the members approved a final dividend of Rs. 1/- (10%) per equity share of Rs. 10/- (face value) each for the financial year ended March 31, 2024.

The record date for the purpose of the same will be announced in due course of time according to Systematix Corporate Services.

Systematix Corporate Services Stock Split

During the company's 26 September 2024 Annual General Meeting (AGM), the members also approved sub-division/split of 1 equity share of the company having a face value of Rs. 10/- each fully paid up into 10 equity shares having a face value of Rs. 1/- each fully paid up, as per a stock exchange filing.

Systematix Corporate Services claims that the purpose of the 1:10 stock split is to improve the liquidity of the company's equity share to make it more affordable for small investors and also to broaden the base of small investors.

The expected time of completion of the share split is within 2 months from the date of shareholder's approval i.e. September 26 subject to other necessary approvals. Systematix Corporate Services states that the record date for the purpose of the stock split would be notified to stock exchanges once approved by the Board of Directors.

Systematix Corporate Services Financials

Systematix Corporate Services' net profit dropped 60.72% to Rs 1.74 crore in the quarter that ended in June 2024 from Rs 4.43 crore in the quarter that ended in June 2023. In the quarter that ended in June 2024, sales went up by 65.99% to Rs 29.28 crore, compared to Rs 17.64 crore in Q1FY24.

Systematix Corporate Services Share Price Target

"Systematix Corporate stock price is overbought yet bullish on the Daily charts with next resistance at 1870. Investors should be booking profits at current levels as a Daily close below support of 1727 could lead to a target of 1490 in the near term," predicted A R Ramachandran, Independent Research Analyst.

Disclaimer

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