2 multibagger stocks to watch next week for stock split issue
Premium- The two firms that have disclosed stock split issues are Radhe Developers (India) and Steel Exchange India Ltd (SEIL).
The two firms that have disclosed stock split issues are Radhe Developers (India) and Steel Exchange India Ltd (SEIL). Radhe Developers declared July 15, 2022 as the record date for the stock split, whereas SEIL has picked July 13, 2022 as the record date. When a corporation splits its existing shares into multiple shares based on a ratio to make it more inexpensive to trade in the market, a stock split occurs on the record date increasing the number of shares of the current shareholders and increasing availability in the stock market, without changing the overall value of all outstanding shares of the company.
Radhe Developers (India)
The company has said in stock exchange filings that “With reference to the Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Company has fixed Friday, July 15, 2022 as the ,Record Date, for ascertaining the eligibility of shareholders entitled for the purpose of Split/sub-division of 1 (one) equity shares of face value of Rs. 10/- (Rupees Ten only) each into 10 (Ten) Equity Shares of face value of Rs. 1/- (Rupees one only) each."
On Friday the stock closed at ₹224.40 level down by 4.96% from its previous close of ₹236.10. The stock has gained by ₹10.05, or 2,132.84 per cent, from its price on July 12, 2021, to its current level during the last year. However, the stock has declined by 27.23 per cent thus far in 2022 on a year-to-date basis.
Steel Exchange India Ltd (SEIL)
The Board of the company have said in BSE filing that “Pursuant to Reg. 42 of the Listing Regulations and relevant provisions of the Companies Act, 2013 and Rules made thereunder, the Company has fixed Wednesday, July 13, 2022, as the Record Date for the purpose of determining Record Date for sub-division/split of each equity share having face value of Rs. 10/- (Rupees Ten Only) each, fully paid-up into Ten (10) equity shares having face value of Rs. 1/- (Rupees One Only) each fully paid up."
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The stock climbed by 4.99 per cent from its previous close of ₹205.30 and closed at ₹215.55 on Friday. The shares of SEIL have risen from ₹68.65 as of July 12, 2021 to the current level during the past year, representing a multibagger return of 213.98 per cent. The stock has gained 14.56 per cent YTD so far in 2022.