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Business News/ Markets / Stock Markets/  Multibagger stock of 2022 hits upper circuit ahead of stock split
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Multibagger stock of 2022 hits upper circuit ahead of stock split

Kritika Wires Ltd. is a small cap company with a market valuation of ₹237 crore that operates in the metal industry.

The shares of Kritika Wires Ltd. finished trading today at an upper circuit limit of Rs. 133.85, up 4.98% from the previous close of Rs. 127.50 a piece.Premium
The shares of Kritika Wires Ltd. finished trading today at an upper circuit limit of Rs. 133.85, up 4.98% from the previous close of Rs. 127.50 a piece.

Kritika Wires Ltd. is a small cap company with a market valuation of 237 crore that operates in the metal industry. The company manufactures several kinds of steel wire and galvanized wire for the State Electricity Boards, Power Grid Corporation of India Ltd., and other companies. One of India's largest wire and galvanizing facilities of its sort is Kritika. The company's state-of-the-art plant is located in Howrah, West Bengal's Sankrail Industrial Park. The shares of Kritika Wires Ltd. finished trading today at an upper circuit limit of Rs. 133.85, up 4.98% from the previous close of Rs. 127.50 a piece. The stock had been moving toward its upper circuit throughout the previous five trading days. 44,021 shares were traded in total today, above the 20-Day average volume of 20,604 shares.

Kritika Wires Stock Split Details

According to data available on NSE, the company has announced a stock split that would reduce the face value per share from Rs. 10 to Rs. 2. The corporation has set August 30, 2022, as the record date and August 29, 2022, as the ex-date for this purpose.

Kritika Wires Stock Split
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Kritika Wires Stock Split (nseindia.com)

The share price climbed from 70.20 on May 6, 2022 to the current price level, which is a 5-year all-time high of 90.67%. The stock price climbed from 58.05 on May 4, 2022, to the present market price during the course of the previous year, resulting in a multibagger return of 130.58%. The stock has so far in 2022 produced a multibagger return of 130.58% on a YTD basis. The stock has maintained a multibagger return of 130.58% during the past six months, but it has gained by 33.18% within the past month.

The stock has appreciated 20.80% during the past five trading days. On the NSE, the stock had touched a 52-week-low of 51.30 on (27-May-2022), which indicates that at the current 52-week-high level and an upper circuit limit of 133.85, the stock is trading 160% above the 52-week-low. At the current market the stock is trading above the 5 days, 10 days, 20 days, 50 days, 100 days and 200 days Exponential Moving Average (EMA). The company has a promoter shareholding of 72.89% which is higher than its peers like Usha Martin, Rajratan Global, Maharashtra Seamless Ltd, Apollo Tricoat, Welspun Corp, Shyam Metalics and Ratnamani Metals.

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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: 26 Aug 2022, 09:10 PM IST
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