This multibagger stock fixes record date for stock split: Check details here
1 min read 25 Jun 2022, 04:06 PM ISTSteel Exchange India Ltd, is a small-cap company with a market valuation of ₹1169 crore that is involved in the iron and steel industry.
PremiumWith a market valuation of ₹1,169 crore, Steel Exchange India Ltd (SEIL) is a small-cap business that operates in the metal industry. The record date for the stock split has been set by the company's board as of July 13, 2022. The firm is the largest privately-owned integrated steel factory in Andhra Pradesh and works in the iron and steel production industry. The largest plant is a 0.5 million tonne sponge iron unit, a 0.3 million tonne billet unit, and a 220,000 tpa rolling mill integrated steel production centre. At Malliveedu Village in Andhra Pradesh, on 400 acres of land, 35 kilometres from Visakhapatnam City, is where the steel production hub is situated. A 60MW captive power plant called Simhadri Power Limited(SPV) has been established by SEIL.
The company has informed BSE today and said in its filing that “Pursuant to Reg. 42 of the Listing Regulations and relevant provisions of the Companies Act, 2013 and Rules made thereunder, the Company has fixed Wednesday, July 13, 2022, as the Record Date for the purpose of determining Record Date for sub-division/split of each equity share having face value of Rs. 10/- (Rupees Ten Only) each, fully paid-up into Ten (10) equity shares having face value of Rs. 1/- (Rupees One Only) each fully paid up."
The stock has climbed from ₹57.20 to its present position of ₹132.10 during the past year has resulted in a multibagger return of 130.94 percent. The stock has lost 29.79 percent of its value year to date (YTD) in 2022. The stock has dropped 22.66 per cent over the past six months, and 9.21 per cent over the past month. The stock has fallen 8.04 per cent in the last five trading days. Steel Exchange is trading below the 5 days, 20-day, 50-day, 100-day, and 200-day moving averages based on the most recent traded price.
Correction: An earlier version of the story had incorrectly referred to the company as SAIL instead of SEIL.
