Double Dhamaka! Board announced record date for 1:1 bonus share, 2:1 stock split: Promoters bought 9,66,690 shares!
The stock is up by 44 per cent from its 52-week low of Rs 490 per share.
Milkfood Ltd informed that the Board of Directors of the company have announced a 1:1 bonus share (i.e., Issue of 1 bonus equity share for every 1 fully paid up equity share) and 2:1 stock split (proposal of sub-division of equity share of the face value of Rs 10 each fully paid up into equity shares of the face value of Rs 5 each fully paid up). The Record Date for the bonus issue & stock split of equity shares is fixed as Tuesday, August 13, 2024.
On Friday, the shares of Milkfood Ltd plunged 0.62 per cent to Rs 704.60 per share from its previous closing of Rs 709 per share. The stock’s 52-week high is Rs 824.45 per share and its 52-week low is Rs 490.
Milkfood Ltd, established in 1973, is a dairy product manufacturer part of the Jagatjit Group of Industries. They offer a variety of milk powders (skimmed and full cream), casein (edible and industrial grade), whey powder, dairy creamers, and pure ghee. With production facilities in Patiala and Moradabad, Milkfood Ltd caters to both domestic and international clients. Their products are used in various industries including chocolates, ice cream, coffee whiteners, health supplements, infant food, beverages, cheese, and even knitting needles, cosmetics, and pharmaceuticals. Some of their well-known clients include Aditya Birla Retail, Nestle India, Cadbury India, and Glaxo SmithKline.
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In Q1FY25, the promoters of the company bought 9,66,690 shares and increased their stake to 56.03 per cent compared to 47.74 per cent in Q4FY24. The company has a market cap of over Rs 400 crore and positive numbers in its Quarterly Results (Q4FY24) and annual results (FY24). The stock is up by 44 per cent from its 52-week low of Rs 490 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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