10:1 stock split announced by President of India-backed multibagger stock: 137 per cent returns from its 52-week low & FIIs increase stake
The stock gave multibagger returns of 137 per cent from its 52-week low of Rs 386.10 per share.
The Board of Directors of Balmer Lawrie Investments Ltd announced a stock split of its equity shares in the ratio 10:1 i.e., Splitting/Sub-dividing of 1 equity share of the company of face value of Rs10 each into 10 Equity shares of face value of Re 1 each and consequent amendment of the Capital Clause of Memorandum of Association (MOA) and Alteration of Articles of Association (AOA). The Board fixed the record date for the stock split as Friday, August 09, 2024.
Balmer Lawrie Investments Ltd is a Government of India company under the Ministry of Petroleum & Natural Gas, established in 2001. It solely acts as a holding company for Balmer Lawrie & Co. Limited (BL), with the President of India holding a majority stake (59.67 per cent) in Balmer Lawrie Investments Ltd. Incorporated during the deregulation of the oil industry and economic globalization, Balmer Lawrie Investments Ltd was formed to hold the de-merged equity shares of BL from IBP Co. Ltd. As a result, it became the holding company for BL with a 61.8 per cent stake. As of March 2024, FIIs increased their stake to 1.08 per cent compared to 0.82 per cent in December 2023.
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Balmer Lawrie Investments Ltd functions as a special-purpose vehicle with no independent business operations. Its primary function is to hold the equity shares of BL. Currently, Balmer Lawrie & Co. Ltd (BL) is its sole subsidiary. Previously, Balmer Lawrie (UK) Ltd (a subsidiary of BL) also existed. However, BL initiated the closure of BLUK in 2018-19 and transferred its holdings to PT. Balmer Lawrie Indonesia (PTBLI) to BL.
The company has a market cap of over Rs 2,000 crore and reported amazing numbers in its Quarterly Results (Q4FY24) and annual results (FY24). On Friday, the shares of Balmer Lawrie Investments Ltd plunged 0.23 per cent to Rs 913.70 per share from its previous closing of Rs 915.80 with an intraday high of Rs 949.40 and an intraday low of Rs 905.90. The stock gave multibagger returns of 137 per cent from its 52-week low of Rs 386.10 per share. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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