Srestha Finvest stock split: NBFC declares record date for stock subdivision. Details here

Srestha Finvest stock split record date: NBFC firm Srestha Finvest announced on Wednesday, September 11, that Monday, September 23, would be the record date for its stock split, which it had announced in July this year.

On July 31 this year, the company announced that its board of directors had approved the sub-division of the company’s one share of face value of ₹2 each into two shares of face value of ₹1 each.

In an exchange filing during market hours on Wednesday, September 11, the company said, “…Srestha Finvest has fixed Monday, September 23, as the record date to determine the eligibility of shareholders of the company for the sub-division of each fully paid-up equity share with a face value of ₹2 be sub-divided into two fully paid equity shares of a face value of ₹1.”

The company made this announcement after receiving shareholders' approval on September 5.

The penny stock opened at its 5 per cent lower circuit of ₹1.77 on Wednesday. Around 3 pm, it traded 3.76 per cent lower at ₹1.79 apiece.

The Srestha Finvest share price hit a 52-week low of ₹0.98 on March 28, and a 52-week high of ₹2.56 on July 26 this year. Year-to-date, the stock has gained 44 per cent.

This penny stock, under ₹2, is available for trade on BSE only.

The stock has been under selling pressure after hitting a 52-week high in July. On a monthly scale, it lost 12 per cent in August and is down 9 per cent in September so far.

Meanwhile, Indian stock market benchmarks—the Sensex and the Nifty 50—fell over half a per cent each in intraday trade on Wednesday, tracking weak global cues. Investors remained cautious ahead of the release of the US inflation prints, due later today, to gauge the size of the Fed rate cut this month.

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