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Business News/ Markets / Stock Markets/  Multibagger stock is 419% above the 52-week-low, Board declares stock split
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Multibagger stock is 419% above the 52-week-low, Board declares stock split

A small cap company with a market cap of ₹408.14 Cr, Shreeji Translogistics Ltd operates in the transport services industry.

The shares of Shreeji Translogistics Ltd closed today at ₹389.35 apiece on the BSE, down by 2.32% from the previous close of ₹398.60.Premium
The shares of Shreeji Translogistics Ltd closed today at 389.35 apiece on the BSE, down by 2.32% from the previous close of 398.60.

A small cap company with a market cap of 408.14 Cr, Shreeji Translogistics Ltd operates in the transport services industry. The company provides an extensive spectrum of logistical requirements, from export-import container transportation to bond trucking transportation, and is one of India's most well-known integrated national logistics service providers. For logistics operations, the organisation has about 220 trucks under its ownership and over 500 outsourced vehicles. The Board of Directors of the company in their meeting held today on 1st December has announced stock split which market watchers may have a look at.

The company has said in a stock exchange filing that “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we hereby inform that the Board of Directors of the Company has, at its meeting held today i.e. on Thursday, 1st December, 2022, inter alia, decided to seek approval of the shareholders through Postal Ballot (including remote e-voting) in respect of the following: Sub-division (Split) of equity shares of face value of Rs.10/- (Rupees Ten only) each held by shareholders of the Company, into face value of Rs. 2/- (Rupees Two only) each fully paid-up. The Record Date for the proposed sub-division (split) will be intimated in due course subject to compliance of necessary laws."

The pre-division authorized share capital is 10,500,000 shares at a face value of 10 and post-division authorized share capital would be 52,500,000 shares at a face value of 2. The pre-division issued subscribed & paid-up share capital is 10,482,525 shares at a face value of 10 and the post-division issued subscribed & paid-up share capital will be 52,412,625 shares at a face value of 2.

The shares of Shreeji Translogistics Ltd closed today at 389.35 apiece on the BSE, down by 2.32% from the previous close of 398.60. The stock had touched a 52-week-high of 509.10 on (14/11/2022) and a 52-week-low of 74.90 on (01/12/2021), indicating that at the current market price the stock is trading 23.52% below the 1-year high and 419.82% above the 1-year low. The stock has produced a multibagger return of 380.00% over the past year, and so far in 2022, it has produced a multibagger return of 132.26% on a YTD basis. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 72.70% and a public stake of 27.30%.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 01 Dec 2022, 06:27 PM IST
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