Stock Splits Next Week: 3 Penny Stock Will Turn Ex-Split On This Day; 20-280% Gains YTD; Do You Own Any?

Three penny stocks are all set to turn ex-date for their sub-division during the trading week from October 21 to October 25. In general terms, share splits mean that listed companies can split their existing shares into a ratio decided by them for a host of reasons. These could be done to improve liquidity, lessen the value of the stock, make it cheaper or simply attract new buying from both existing and new investors.

One of the penny stocks has given triple-digit returns and emerged as a multibagger of 2024 so far, while the other two have risen by double-digits on BSE. These penny stocks are - Mayukh Dealtrade, POCL Enterprises, and Sukhjit Starch & Chemicals. Accordingly, these stocks will be in focus next week.

Mayukh Dealtrade:

This penny stock is below Rs 10! On BSE, the stock price stood at Rs 8.51 apiece, down by 0.82% on October 18, with a market cap of Rs 20.42 crore. The stock's price-to-equity ratio is at 13.87x, while the return on equity is at 6.53%. YTD, the stock is down by 43.3%.

Mayukh fixed October 25, as the record date to determine the eligibility of shareholders of the Company for the Subdivision/Split of each fully paid-up equity share having a face value of Rs.5/- (Rupees Five Only) each be Sub-divided into 5 (Five) fully equity shares having Face value of Re.1/- (Rupees One Only).

The stock split ratio is 1:5.

Established in the year 1980, in Mumbai, Mayukh Dealtrade is a Public Limited Firm, as the Manufacturer and Exporter of Electric Kapoor Dani, Wood Kapoor Dani, T Light Holder, Portable Steam Vaporizer, Glass Table Lamp etc.

POCL Enterprises:

Yet another penny stock, however, trading below Rs 900 levels. POCL Enterprises, engaged in the commodity chemicals business, is also going to split in the ratio of 1:5.

For the upcoming split, the company fixed October 25 as the record date to determine eligible shareholders. The ratio would mean the sub-division of the existing one (1) Equity Share of the face value of Rs. 10/- each, fully paid up, into five (5) Equity Shares of the face value of Rs. 2/- each, fully paid up, ranking pari-passu in all respects.

After market hours on October 18, POCL stock ended at Rs 846.45 apiece, which is its 2% upper circuit and also a new 52-week high. The m-cap is at Rs 471.98 crore. Further, the stock's price-to-equity ratio is at 22.10x, while the return on equity is at 31.34%. YTD, the stock jumped by 279.83%.

POCL Enterprises Limited (POEL) has embarked on a remarkable journey since its inception in 1988, becoming one of the leading Indian manufacturers of Metallic Oxides such as Lead Oxides and Zinc Oxide, PVC Stabilizers and Zinc Metal & Lead Metal.

Sukhjit Starch & Chemicals:

Sukhjit will split for the first time in the ratio of 1:2. The company has inter-alia fixed 25th October 2024 (Friday) as the 'Record Date' for determining the entitlement of the shareholders for the Split/subdivision of Equity Shares of the Company, having face value of Rs.10/- each, fully paid-up, into equity shares having face value of Rs. 5/- each, fully paid-up.

The stock price ended at Rs 592.95 apiece, marginally down on BSE after market hours of October 18. However, during the trading session, the stock touched an intraday high of Rs 608 apiece, which was near its 52-week high of Rs 619 apiece.

Sukhjit Starch's weekly gains are about 2.7%, while its monthly performance is about 5.4%. In six months, the stock is up by 24.64%. While YTD, the upside is about 21.5%.

Sukhjit was born in the year 1943, and has since grown by judicious and innovative utilisation of its unique traditions to meet the challenge of the future, from a modest beginning of 1800 TPA Corn Grind in 1943 to around 600,000 TPA of Corn Grind spread across Four Manufacturing Locations within India. Sukhjit is a leader in its field and always at the forefront amongst its peers.