Srestha Finvest, a penny stock that has delivered impressive returns, has announced a 1:2 stock split. Over the past year, this small-cap stock has jumped from about ₹1.10 to ₹2.41 per share on the BSE, achieving a nearly 120% increase. The company’s board of directors approved the stock split during a meeting on Friday. The record date to determine eligible shareholders for the split will be announced later. This marks the second stock split for Srestha Finvest; the first occurred on October 13, 2016, when the stock split 1:5.
Details of the Stock Split:
Srestha Finvest notified the stock exchange of their decision, stating, “The meeting of the Board of Directors of our Company is scheduled for Wednesday, July 31, 2024, at 2:00 PM at the company’s registered office to discuss the following major business: 1) Sub-division of equity shares from a face value of Rs. 2 each to Rs. 1 each according to Section 61 (1) (d) of the Companies Act, 2013, and other applicable provisions, if any; and 2) Any other business with the permission of the Chair.”
Srestha Finvest Share Price History:
- One Month: The share price has increased from ₹1.88 to ₹2.41, a 25% rise.
- Six Months: The share price has climbed from ₹1.27 to ₹2.41, a nearly 90% increase.
- Year-to-Date: The stock has provided an 85% return to its shareholders.
- One Year: The share price has risen from ₹1.10 to ₹2.41, delivering around 120% returns.
Additional Information:
Srestha Finvest is only available for trade on the BSE. As of Friday, the company has a market cap of ₹197 crore, with a trade volume of 34,967,793 shares. The stock’s 52-week high is ₹2.56, while its 52-week low is ₹0.98 per share.
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