Penny Stock Under Rs 70; Board Announces 10:1 Stock Split
The stock is trading at 0.80 times its book value with a PE of 9x whereas industry PE is 19x.
On Tuesday, shares of Akme Fintrade (India) Ltd gained 2.25 per cent to Rs 66.79 per share from its previous closing of Rs 65.32 per share. The stock’s 52-week high is Rs 134.70 per share and its 52-week low is Rs 65 per share. The shares of the company saw a spurt in volume by more than 1.14 times on BSE.
Akme Fintrade (India) Limited's Board of Directors has announced a sub-division or split of their equity shares, where each existing share with a face value of Rs 10 will be divided into ten shares with a face value of Re 1 each. To execute this, the board has set Friday, April 18, 2025, as the 'Record Date' to determine the shareholders eligible for this split. There will be no book closure period associated with this corporate action.
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Akme Fintrade (India) Ltd, established in 1996, is an RBI-registered NBFC specializing in retail financing for lower and middle-income groups, with a focus on rural and semi-urban areas. Operating across Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat through 28 branches and over 30 sales points, AFIL serves more than 2 lakh customers, managing Assets Under Management (AUM) exceeding Rs 523 crore, with borrowings of Rs 240+ crore, a Gross Non-Performing Asset (GNPA) ratio of 2.86 per cent and a Net Non-Performing Asset (NNPA) ratio of 1.27 per cent.
The company has a market cap of Rs 282 crore and its working capital requirements have reduced from 47.6 days to 31.9 days. The stock is trading at 0.80 times its book value with a PE of 9x whereas industry PE is 19x. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.