Stock market next week: These 4 stocks' split date falls next week. Details here
Posted On March 5, 2022
Stock market next week: To reach out to small retail investors and raise its trade volume, various listed companies split its stock when it touches a levels where small investors find it difficult to invest in the stock with small amount. In such condition, listed company’s board of directors increases its number of outstanding shares by issuing more shares to current shareholders. Such decision doesn’t change fundamentals of the company. It decreases the price of its shares where a small investor with small amount would be able to invest in the stock.
In stock market next week, stock split of four companies are expected, which are as follows:
1] Nouveau Global: Board of directors of the company have already approved the subdivision of its stocks in 10:1 and date of stock split has been fixed on 7th March 2022.
Nouveau Global has informed Indian exchanges about the stock split decision citing, “This is to inform that to give effect to the sub-division of Equity Shares of the Company, both Depositories i.e., National National Securities Depository Limited and Central Depository Services (India) Limited have allotted new ISIN for Equity Shares of the Company having face value of Re. 1/ – each, after effecting Sub-division of Equity Shares of the Company which has been approved by the members at EGM held on 21st February, 2022. The new ISIN No. for face value of equity shares of Re.1/- each is INE317B01042.”
2] BCL Enterprises: Board of directors of the company have announced the record date for subdivision of shares in 10:1. The record date for stock split has been fixed on 11th March 2022.
BCL Enterprises informed Indian exchanges in this regard citing, “We would like to inform you that the Company has fixed Friday, 11th March, 2022 as the “Record Date”, for the purpose of Sub-division of Equity Shares (all the Authorized, Issued, Subscribed and Paid-up Equity Shares of nominal value of Rs. 10/- (Rupees Ten Only) each shall stand sub-divided into 10 (Ten) Equity Shares of nominal value of Re. 1/-(One Rupee) each fully paid-up) and ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) Equity Shares of Re. 1/- each for every 1 (One) existing Equity Share of Re. 1/- each, in accordance with the approval of shareholders in Extra-Ordinary General Meeting held on 25th day of February, 2022.”
3] Mauria Udyog: Company management has informed Indian exchanges that its board of directors have approved stock subdivision into 10:1 and the record date for stock split has been fixed on 10th March 2022.
Mauria Udyog informed about the latest development citing, “This is in continuation to our communication dated 28th February, 2022 regarding sub-division of each of the Equity Share of the Company having a face value of Rs.10/- each sub-divided into 10 (Ten) Equity Shares having a face value of Re. 1/- each that the sub-division of Equity Shares will take effect under the new ISIN i.e. INE150D01027. ISIN activation Letter received from National Securities Depository Limited has been enclosed herewith.”
4] Ultracab India: The board of directors of the company have approved stock sub-divison in 1:5 and the record date for stock split was earlier fixed on 11th March 2022. But, now it has been changed to 12th March 2022.
Ultracab India informed about the stock split in its exchange communication citing, “This is in reference to our earlier intimation of record date submitted to exchange dated 25th February 2022, the company had fixed Friday, 11th March, 2022 as record date pursuant to Regulation 42 of the SEBI (Listings Obligations and Disclosures Requirements) Regulations, 2015, for purpose of Sub Division of the equity shares and Fully paid-up Bonus equity shares subject to approval of Shareholders in Extra- Ordinary General Meeting schedule to be held on 04″ March, 2022.”
“We would like to inform you that as per communication from exchange the aforesaid record date is revised to Saturday, 12″ March, 2022.”
On purpose of the scheduled meeting on 12th March 2022 is ‘sub-division of Face Value of equity shares and issue of fully paid bonus shares in ratio of 1:2 i.e. 1 (One) bonus share of ₹2/- each for every 2 (two) fully paid equity shares.’
Never miss a story! Stay connected and informed with Mint. Download our App Now!!