Multibagger stock update: Board announces stock split of equity shares!

Shares of the company have gained about 150 per cent in the last six months.

On March 20, 2023, Sylph Technologies Limited informed in the exchange filing that the board of directors of the company held a meeting on Monday and approved the proposal for the sub-division of 1 equity share of the company having a face value of Rs 10 each into 10 (Ten) equity shares having face value of Rs 1 each, subject to regulatory approvals.

Further, the board of the company also recommended consequential amendments in the capital clause of the Memorandum of Association of the company. The record date for the sub-division of equity shares shall be decided by the board and will be intimated to the shareholders afterwards.

Sylph Technologies Limited has delivered multibagger returns to its shareholders. During this period, the company’s share price jumped from Rs 4.67 on March 21, 2022, to Rs 34.60 on March 21, 2023, an increase of 640.90 per cent in one year holding period.

Incorporated in 1992, Sylph Technologies Ltd provides software development services & solutions, newspaper distribution and trading of Financial Instruments.

Today, the stock opened at Rs 34.60, with a high and low of Rs 34.60 and Rs 34.57. The stock is currently trading at Rs 34.60, down by 1.90 per cent over its previous close of Rs 35.27. The stock has a 52-week high of Rs 53 and a 52-week low of Rs 4.67.