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Commercial services company Sarthak Industries Ltd is a small-cap company with a market value of 124.39 Cr. The company manufactures LPG cylinders, which are distributed to both private companies and oil companies including Bharat Petroleum Corporation Ltd., Hindustan Petroleum Corporation Ltd., and Indian Oil Corporation Ltd. The Company's Board of Directors has changed and set Tuesday, December 20, 2022, rather than Friday, December 16, 2022, as the record date for the purpose of the 1:3 bonus shares.

The company has said today in a stock exchange filing that “This has reference to our previous intimation dated December 05, 2022 w.r.t intimation of Record Date, this is to inform you that pursuant to the provision of Regulation 42 of SEBI (LODR) Regulations, 2015, the Board of Directors has revised and fixed Tuesday, 20th December, 2022 as the Record Date and not Friday, 16th December, 2022 as communicated earlier, for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus shares in the ratio of 1 (One) new equity bonus share of Rs. 10/- each for every 3 (Three) existing fully paid equity shares of Rs. 10/- each held by its shareholders, subject to the approval of shareholders in the ensuring Extra-ordinary General Meeting (EGM) to be held on Saturday, 10th December, 2022."

For the ascertainment of eligibility for issuance of issue of bonus equity shares in proportion of 1 fully paid-up equity share of Rs. 10/- each for every 3 fully paid-up equity shares of Rs. 10/- each held by the shareholders of the company as on the record date Tuesday, December 20, 2022, the announcement has been made today by the company’s Board of Directors as per the data of BSE filing.

The shares of Sarthak Industries Ltd closed today at 178.50 apiece, down by 0.78% from the previous close of 179.90. The stock recorded a total volume of 86,915 shares compared to the 20-Day average volume of 15,641 shares. In the previous five years, the stock price grew from 5.95 on March 1, 2018, to the present market price, delivering a multibagger return of 2,921.85%. In the previous three years, the stock price has gone up from 7.94 on December 23, 2019, to the present market price, generating a multibagger return of 2,164.48%. The stock has appreciated 72.55% over the last year, and so far in 2022, it has climbed 65.41% on a YTD basis. 

The stock had touched a 52-week-high of 216.05 on (14/11/2022) and a 52-week-low of 46.10 on (10/08/2022), indicating that at the current market price the stock is trading 17.38% below the 1-year high and 287.20% above the 1-year low. For the quarter ended September or Q2FY23, the company recorded a promoter shareholding of 36.27% and a public stake of 63.73%.

ABOUT THE AUTHOR

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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