Stock split 2022: After trading within a range for entire week, Indian stocks finally succumb to sell off pressure and ended in red zone on weekend session. However, Bank Nifty index remained strong and finished on higher note after the end of Friday session. As IT stocks witnessed heavy selling pressure after FIIs booking profit and squaring off their positions, Dalal Street would expect domestic institutional investors (DIIs) for some buying interest in the IT segment.
However, some stocks are expected to remain in focus for their corporate actions as well. Four stocks are going to trade ex-split this week and their shareholders would be keen to see the stock movement this week before and after stock split.
Here we list out full details in regard those stocks going to trade ex-split this week:
1] Alstone Textiles: This multibagger stock has delivered near 1000 per cent return to its long term shareholders in YTD time. The small-cap company with a market cap of ₹217 crore will trade ex-split and ex-bonus on 14th December 2022. The small-ap company has announced issuance of bonus shares in 9:1 whereas it is going to split its stocks in 1:10 ratio.
Informing Indian bourses about the decision, the small-cap company said, “With reference to above captioned subject, we wish to inform that the members of the Company in their EGM held on Tuesday, 06th day of December, 2022, by way of Ordinary Resolutions, has considered and approved the following: 1. Sub-Division of Equity Shares from the face value of Rs.10/- per Share to Re. 1/- per Share. 2. Increase in the Authorised Share Capital of the Company and Alteration of Capital Clause of Memorandum of Association of the Company. 3. Issuance of Bonus Shares.”
2] Star Housing Finance: Shares of this financial company is one of the multibagger stocks that Indian stock market has delivered in recent years. This small-cap company is also going to trade ex-split and ex-bonus on 16th December 2022 this week. The small-cap company with a market cap of ₹415 crore has declared bonus shares in 1:1 ratio whereas it has announced stock subdivision in 1:2 ratio.
3] ST Corporation: This is one of the multibagger stocks that Dalal Street has produced this year. The small-cap company with a market cap of near ₹210 crore has declared stock subdivision in 1:5 ratio and it would trade ex-split this week on 16th December 2022. This small-cap stock has surged over 1350 per cent in YTD time. So, after stock subdivision, it is expected to attract small investors leading to spurt in trade volume of the multibagger stock.
4] Lancer Container Lines: This small-cap stock is one of the multibagger stocks of Indian stock market in YTD time. In this time, this small-cap stock has generated near 110 per cent return for its shareholders. the small-cap multibagger stock is going to trade ex-split on 16th December 2022 as the board of directors of the company has announced stock subdivision in 1:2 ratio.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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