Home / Markets / Stock Markets /  This penny stock fixes record date for stock split: Key takeaways to note

With a market capitalization of Rs. 15.38 Cr., Saianand Commercial Limited is a small company engaged in the commercial services industry. The Company's Board of Directors has fixed a record date of August 17, 2022 for the purpose of a stock split, which shareholders must be informed of.

The Board of Directors of the company today has said in stock exchange filings that “Further to our letter dated 29th July, 2022 informing your esteemed Exchange about a proposal being submitted to the shareholders at their 38th Annual General Meeting (AGM) to be held on 29th July 2022 seeking their approval for the split of the 1, 30, 00,000 (equity shares of Rs.10/- each into 13, 00, 00,000 equity shares of Rs.1/each, we wish to inform you that the shareholders have approved the proposal and the company has fixed 17th August, 2022 as the Record Date for the said split of the shares."

“The Board of Directors of the company has fixed a record date of 17th August, 2022 for purpose of sub-division / stock split of Rs. 10/-· per share of the company into the shares of Rs. 1/- each. We hereby undertake that the company will set up Auto Corporate Action with both the Depositories - CDSL and NSDL for execution before BOD on the trading day succeeding the record date. Further, the company undertakes to resolve any complaint on account of the failure on the part of the company to complete all formalities for execution of Auto Corporation Action," the company has said in a regulatory filing.

On the BSE, the stock gained 4.96 per cent from its previous close and settled today at 13.54 apiece. The stock has gained 47.17 per cent YTD so far in 2022, but it has dropped 15.90 per cent over the past month. In the past five days, the stock has climbed 14.26%. On the BSE, the stock had touched a 52-week-high of 17.25 on 01/07/2022 and a 52-week-low of 8.77 on 14/06/2022 which means that at the current price level the stock is trading 21.50% below from the 52-week-high and 54.38% above the 52-week-low.

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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