FII bought 6,66,366 shares: Penny stock under Rs 100 to keep under radar as Board announces 10:1 stock split
The stock is down by 35 per cent from its 52-week high of Rs 146.90 and up by 26 per cent from its 52-week low of Rs 76.02.
On Monday, shares of Exxaro Tiles Ltd surged 4.02 per cent to an intraday high of Rs 95.55 per share from its previous closing of Rs 91.85. The stock is down by 35 per cent from its 52-week high of Rs 146.90 and up by 26 per cent from its 52-week low of Rs 76.02.
Exxaro Tiles Limited has announced plans to split its existing equity shares from a face value of Rs. 10 to Rs. 1 each. This move, subject to shareholder approval, aims to increase the accessibility of the company's shares to smaller investors and improve liquidity in the stock market. The record date for the share split will be determined after shareholders approve the proposal through a postal ballot or electronic voting process. The company anticipates that the entire process will be completed within 2-3 months of obtaining shareholder consent.
Additionally, an FII - Bofa Securities Europe Sa bought 6,66,366 shares of the company on Tuesday through block deals. The number of shares acquired amounts to 1.48 per cent of the company's outstanding equity. BofA Securities acquired the stake for Rs 96.22 per share aggregating to Rs 6,41,17,737.
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Established in 2008, Exxaro Tiles Ltd (ETL) has carved a niche in the refractory ceramic industry. With a focus on manufacturing and marketing vitrified tiles, ETL offers a diverse range of products catering to various needs and preferences. Their extensive product portfolio includes double-charge vitrified tiles, glazed vitrified tiles, full-body vitrified tiles, wall tiles, and parking tiles, each designed to provide exceptional quality and durability.
ETL's commitment to innovation is evident in their product offerings, which boast features like 3D effects in double charge tiles, FGVT technology, high gloss finishes, full-colour body vitrified tiles, and advanced polishing techniques. These unique attributes make ETL's tiles ideal for a wide range of applications, including airports, hotels, retail malls, homes, restaurants, museums, shops, offices, and more. The company's strong clientele base, which includes renowned names like BAPS, Purvankara, Lodha, Rajhans, Shapoorji Pallonji and Amul, is a testament to their product quality and reliability.
The company has a market cap of over Rs 400 crore and reported a mixed set of numbers in its Quarterly Results (Q1FY25) and annual results (FY24). Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.