This high promoter holding stock announces stock split, check record date

TPL Plastech Ltd is a small-cap company that operates in the industrial sector and has a market worth of ₹268.56 crore. The company is India's second-largest manufacturer of drums, especially bulk packaging. The company serves more than 250 customers across a range of sectors, including chemical and petrochemicals, specialty chemicals, pharmaceuticals, FMCG, etc. Shareholders should be notified that the Board of Directors of the firm has issued the record date in order to establish the shareholders' eligibility for the purpose of the stock split.

The company has said in a stock exchange filing that “In terms of Regulation 42 and other applicable Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Thursday, October 20, 2022 as the ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division/split of every 1 (One) fully paid-up Equity Share having face value of Rs. 10/- each, into 5 (Five) fully paid-up Equity Shares of face value of Rs. 2/- each, in the share capital of the Company as approved by the shareholders at the 29th Annual General Meeting of the Company held on September 28, 2022.”

TPL Plastech Limited's shares ended trading on Tuesday at ₹173.00 a piece, up 2.16% from the previous close of ₹169.35. The stock has dropped 37.56% during the past five years, but over the past three years, it has produced a multibagger return of more than 200%. The stock has dropped 1.31% of its value over the past year, but it has gained 4.75% YTD in 2022. The company reported promoter shareholding of 74.86%, DIIs holding of 0.08%, and public shareholding of 25.06% for the quarter ended June 2022. In comparison to Garware Hi Tech Films Ltd, AGI Greenpac Ltd, Cosmo First, Jindal Poly Film, EPL Ltd, Uflex, and Polyplex Corporation Ltd, TPL Plastech now has a promoter stake that is significantly higher. On the NSE, the stock had touched a 52-week-high of ₹207.95 on (17-November-2021) and a 52-week-low of ₹109.00 on (24-February-2022), indicating that at the current market price the stock is trading 16.80% below the high and 58.71% above the low.