Saregama makes a stock split announcement! Read to know more

It is approaching its important moving average of 200-DMA, which is placed at Rs 3,874.75

Saregama is India's oldest music label as well as the youngest film studio and a multi-language TV content producer. Erstwhile HMV, the company is the largest global owner of sound recording and publishing copyrights of Indian music across 14 different languages. It also sells unique music devices under its brand, ‘Saregama Carvaan’, and produces movies through Yoodlee Films, which are available on a variety of platforms including theatre, satellite, and video-on-demand (VOD).  

On Thursday, the company made an interesting announcement wherein, its board at a meeting held, considered & unanimously approved the split of one equity share of the company, having face value of Rs 10 each, into ten equity shares of a face value of Re 1 each.   

The stock made a high of Rs 4,049.90 and is currently, trading at Rs 3,905.95, which is also, the lower limit of the day. It is approaching its important moving average of 200-DMA, which is placed at Rs 3,874.75. It is presently trading 29 per cent below its all-time high of Rs 5,505.85, which was touched as of January 03, 2022.   

Meanwhile, the stock is down by about 17 per cent on an MTD basis while on a YTD basis, it is down by 25.5 per cent. Meanwhile, on a longer-term basis, the stock has delivered stupendous returns to its shareholders. The stock is up by about 274 per cent in the last one year and by a whopping 597 per cent in the last three years.