Multibagger stock Saregama turns ex-split; likely to announce its earnings on May 2

It also means the day the stock starts to trade at the newly-adjusted sub-divided price.  

Saregama India Limited is engaged in the production of television serials, including free commercial time. The company's segments include music, films, serials, publication, and marketing support services.  

The stock of Saregama India Limited turns ex-split on Tuesday, changing its face value from the previous Rs 10 to the new face value of Re 1. The company at its meeting on April 6, 2022, had set a record date for a 1:10 stock split, which is scheduled to take place on April 27, 2022. 

Ex-split usually is an ex-date that is set one trading session before the record date. It also means the day the stock starts to trade at the newly-adjusted sub-divided price.   

Why do companies engage in stock splits? Investopedia says, “When a company’s share price increases to a level that may make some investors uncomfortable, or is beyond the share prices of similar companies in the same sector, the company’s board may decide on a stock split.” Also, the stock split is announced to improve liquidity in the market.   

The stock has rewarded its shareholder with handsome capital appreciation and testimony of this is the fact that it has jumped 155.4 per cent in the last one year.   

In the recent announcement, the company has announced that a meeting of the board of directors of the company is scheduled to be held on Monday, May 2, 2022, to consider as well as approve the audited financial results of the company (standalone & consolidated) for the quarter and financial year ended March 31, 2022.