Small Cap Chemicals Sector Stock To Carry Out 10:1 Stock Split, Hits 5% Upper Circuit

Nikhil Adhesives Ltd is a multi-product company manufacturing. It is engaged in selling and exporting several kinds of polymer emulsions that are used for different applications. The Company has been in this business since 1986 and has Five manufacturing units located at Dahanu (Maharashtra), Silvassa(Dadra Nagar Haveli), Dahej(Gujarat), Tumkur (Karnataka) and at Mehatpur (Himachal Pradesh).

Now the multibagger chemicals sector stock has announced that it is all set to carry out stock split in 10:1 ratio and fixed the record date for the same. The stock has a market capitalisation of Rs 808.71 crore, at the time of writing the report. Check key takeaways below:

1. Nikhil Adhesives Ltd To Carry Out 10:1 Stock Split Soon

The board of directors of the company in its regulatory filing stated, "We wish to inform you that pursuant to Regulation 42 of the SEBI (LODR) Regulations, 2015, the Board of Directors of the Company passed the Resolution through Circular Resolution on Today, 22 September, 2022, and fixed the 'Record Date' on 'Thursday, 13" October, 2022' for the purpose of determining the Members, eligible for Sub-Division of Equity Shares from the face value of Rs. 10 per Share to the face value of Re. 1 per Share."

Therefore, the record date for stock split is October 13, 2022. 

2. Nikhil Adhesives Ltd Hits 5% Upper Circuit

The stock today hit 5% upper circuit at 1760.25 apiece. The current market price of the stock is Rs 1760 apiece with a 52-week high at Rs 1847 apiece and 52-week low at Rs 603 apiece, respectively.

3. Nikhil Adhesives Ltd Market Capitalisation

The company has a market capitalisation of Rs 808 crore, at the time of writing the report.

Nikhil Adhesives Ltd 5-Years Return

The company has given multibagger returns to shareholders. In the last 5 years, it has given a return of 1269%, in last 3 years, the return is 1209%, and in last 1 year, the stock has fetched 152% return.

5. Nikhil Adhesives Ltd About

It is an ISO 9001:2015 certified company and their products find use in the paints, packaging, furniture, textiles, construction and many other industries. Nikhil Adhesives Ltd. has a well-equipped laboratory to develop products for various applications and is committed to manufacture quality products at affordable prices for its customers.