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Business News/ Markets / Stock Markets/  Multibagger stock that surged 4600% in 4-year fixes stock split record date
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Multibagger stock that surged 4600% in 4-year fixes stock split record date

Multibagger stock has declared stock split in 2:1 ratio

Dividend paying multibagger stock has given 1100% return in YTD time. (PTI)Premium
Dividend paying multibagger stock has given 1100% return in YTD time. (PTI)

Multibagger stock: After giving final dividend of 0.75 per equity share to its shareholders in September 2022, the board of directors of the small-cap company Confidence Futuristic Energetech Ltd has fixed record date for stock split. The petroleum engineering company has already declared stock split in 2:1 ratio as one share with paid up value of 10 will be divided into two equity shares with paid up value of 5 each.

As per the information available on BSE notice dated 25th October 2022, "Trading Members of the Exchange are hereby informed that Confidence Futuristic Energetech Limited, has fixed Record Date for the purpose of Sub-Division of Equity Shares of the Company on 03/11/2022."

The dividend paying stock informed Indian stock market exchanges about stock split record date citing, "This is to inform The Exchange that the Board of Directors of the Company at their meeting held today i.e. on the 16th October 2022 has approved and fixed Thursday, 03rd November, 2022 as Record date for Sub-division/Stock Split of Shares of the company. Further this is with reference to the board meeting held on 07th September, 2022 and Annual General Meeting held on 30th September, 2022 for Sub-division/Stock Split of Shares of the company, The Equity shares of the company will be sub divided from Rs. 10 each to Rs. 5 each."

This small-cap stock is one of the multibagger stocks of Indian stock market. This petroleum engineering stock has risen from around 270 to 590, delivering to the tune of 120 per cent in last one month. In last six months, this small-cap stock has surged from 144 to 590 apiece levels, delivering more than 300 per cent return to its shareholders. This multibagger dividend paying stock has delivered more than 700 per cent return to its shareholders in YTD time whereas in last one year, it has risen from 49.50 to 590 apiece levels, giving around 1100 per cent return to its positional investors. Similarly, from June 2018 to till date, this multibagger stock has surged from around 12.50 to 590, giving around 4600 per cent return in these near 4 years time.

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Asit Manohar
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Published: 27 Oct 2022, 12:49 PM IST
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