Multibagger capital goods stock announced 1:2 shares split; Stock up by 101.56 per cent in last 1 year!

The split aims to attract more investors by making the shares more affordable, particularly for small retail investors

Bharat Bijlee Ltd , a prominent electrical engineering company in India, has gained approval for a shares split in the ratio of 1:2. This means that one existing share, currently priced at Rs 5,689.4, will be divided into two new shares. The split aims to attract more investors by making the shares more affordable, particularly for small retail investors. Prior to the split, the company's authorized share capital was Rs 8,00,00,000 divided into 80,00,000 equity shares of Rs 10 each. After the split, the authorized share capital remains the same, but the number of equity shares increases to 1,60,00,000 with a face value of Rs 5 each.

In Q3FY24, Bharat Bijlee reported robust financial performance with a profit of Rs 29.69 crore, up from Rs 23.09 crore in Q3FY23. Revenue from operations also saw an increase, reaching Rs 423.74 crore compared to Rs 388.03 crore in Q3FY23. Total income for Q3FY24 stood at Rs 433.33 crore, showing a significant improvement from the previous year.

Bharat Bijlee operates in the manufacturing sector, specializing in transformers, electric motors, elevator systems, drives, and automation. Additionally, the company offers turnkey solutions for various electrical projects. Institutional holdings in the stock have been gradually increasing, with FII holdings rising to 2.14 percent and DII holding reaching 7.82 percent as of December 2023.

With a return of 16.17 percent year-to-date and an impressive multibagger return of 101.56 percent over the past year, Bharat Bijlee has caught the attention of investors. It's advisable for investors to monitor the corporate actions of this Small-Cap stock closely.

Disclaimer: The article is for informational purposes only and not investment advice.