Home / Markets / Stock Markets /  This multibagger stock fixes record date for stock split: Check details here

With 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.


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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