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Business News/ Markets / Stock Markets/  Multibagger stock sets record date for 1:5 stock split, scrip up 100% in 1 year
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Multibagger stock sets record date for 1:5 stock split, scrip up 100% in 1 year

Akashdeep Metal Industries Ltd is a small-cap company having a market cap of ₹97.15 Cr and the company deals in the Financial Services sector as a Non-Banking Financial Company (NBFC).

On Friday, the shares of Akashdeep Metal Industries closed on the BSE at ₹92.50 apiece level, down by 3.19% from the previous close of ₹95.55. (istockphoto)Premium
On Friday, the shares of Akashdeep Metal Industries closed on the BSE at 92.50 apiece level, down by 3.19% from the previous close of 95.55. (istockphoto)

Akashdeep Metal Industries Ltd is a small-cap company having a market cap of 97.15 Cr and the company deals in the Financial Services sector as a Non-Banking Financial Company (NBFC). Previous month, the Board of Directors of Akashdeep Metal Industries had declared stock split in a 1:5 ratio. In order to determine the eligibility of the shareholders for the purpose of the same, the company has fixed record date as February 23rd, 2023.

“This is to inform you that members of the Company through Postal Ballot have approved sub- division of Equity Shares of the Company from One (1) Equity Share having face value of Rs.10/-each (Rupees Ten only) into Five (5) Equity Shares having face value of Rs.2/- each (Rupees Two only) fully paid up. In this regard, pursuant to Regulation 42, of the of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we hereby furnish the details of Record Date as February 23rd, 2023," said Akashdeep Metal Industries in a stock exchange filing.

1:5 i.e., existing one equity share of the company having face value of Rs.10/- each fully paid-up will be sub-divided into 5 equity shares having face value of Rs.2/- each fully paid-up, has been declared as the corporate action by Akashdeep Metal Industries, for which the interested shareholders should hold the shares of the company in their demat account on the record date.

Recently, Akashdeep Metal Industries said in a stock exchange filing that the Board of Directors of the company at their meeting held today i.e., Friday, 10th February, 2023 have appointed Mr. Rabindra Kumar Das as an Additional Executive Non-Independent Director of the company w.e.f. February 10th, 2023.

In Q3FY23, Akashdeep Metal Industries' net profit plummeted 8.77% YoY to Rs. 1.04 crore from Rs. 1.14 crore in Q3FY22. In the quarter that ended in December 2022, the firm recorded net sales of 5.47 crore as opposed to 2.14 crore in the quarter that ended in December 2021, a growth of 155.61% year on year. The EPS of Akashdeep Metal Industries reached 1.08 as compared to 1.54 in the year-ago quarter.

On Friday, the shares of Akashdeep Metal Industries closed on the BSE at 92.50 apiece level, down by 3.19% from the previous close of 95.55. The stock touched a 52-week-high of 174.50 on (07/10/2022) and a 52-week-low of 33.30 on (24/03/2022). In the last 1 year, the stock has generated a multibagger return of 101.74% but on a YTD basis, the scrip has fallen 5.27% so far in 2023.

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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: 11 Feb 2023, 03:19 PM IST
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