Promoters bought 12.64 lakh shares, FIIs and DIIs increased their stake in this multibagger company, Board likely to announce stock split this week!

The company's shares have delivered an impressive return of over 2,500 per cent in the past five years.

stock splits can be a major announcement for retail investors to keep on their radar. One of the leading financial service providers Share India Securities which uses technology to offer customized capital market tech-based solutions to clients is likely to announce the stock split this week on May 09, 2024.

The Board of Directors of the Company is scheduled to convene on Thursday, May 09, 2024, to, among other matters:

• Review and endorse the audited standalone and consolidated financial results of the company for the quarter and financial year ending on March 31, 2024.
• Final dividend for the financial year ending on March 31, 2024.
• Review and sanction the proposal for the subdivision or split of the equity shares of the company, in a manner to be determined by the Board of Directors, subject to approval by the Shareholders and relevant authorities.

Also read Ace Investor Shankar Sharma purchased 3.65 lakh shares in this small-sized company; Promoters increased their stakes in Q4 FY24

Recent Development

At their meeting held on May 07, 2024, the Rights Issue Committee approved the allotment of 1,79,842 fully paid-up equity shares of the company, each with a face value of Rs 10 each, following the conversion of Detachable Warrants. The conversion amount of Rs 525 per Detachable Warrant was paid to complete the conversion process into fully paid-up equity shares.

Ownership:

Regarding ownership of the company, promoters, FIIs, as well as DIIs have increased their stake in the company in the recent quarter update. Promoters' stake has risen from 49.89 per cent to 53.19 per cent, FIIs from 1.66 per cent to 2.68 per cent, and DIIs from 0.54 per cent to 0.58 per cent.

Share Performance

Today, the company's stock closed at around Rs 1,718 per share on the BSE, with a market capitalisation of Rs 6,582 crore. Additionally, the stock has delivered a multibagger return of around 417 per cent in the past three years. The company has not yet released its Quarterly Results for Q4 FY24.

Financial Performance

In Q3 FY24, Share India Securities reported revenue of Rs 374 crore, representing a year-on-year growth of 35.10 per cent from Rs 277 crore in the same quarter last year. The company posted an operating profit of Rs 183 crore, compared to a profit of Rs 141 crore in the same quarter last year. The company’s net profit stood at Rs 115 crore in the December quarter.

Investors must keep this Small-Cap multibagger stock on their radar.

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