Penny Stock Under Rs 70 Hit Upper Circuit As Board Announces Stock Split From Rs 10 To Re 1; Check Record Date Inside
The stock is up by 58.4 per cent from its 52-week low of Rs 44.07 per share.
Vivid Mercantile Ltd has announced that its Board of Directors will convene to consider and approve a proposal to stock split the company's equity shares from a face value of Rs 10 to Re1 per share, contingent upon shareholder ratification. Additionally, the Board will deliberate on increasing the company's authorized share capital from the current Rs 10,03,00,000 to Rs 30,53,00,000, divided into 3,05,30,000 equity shares of Rs 10 each, subject to shareholder approval. The board fixed the record date for the stock split as Friday, November 01, 2024.
Vivid Mercantile Ltd, established in 1994, has transitioned from graphic designing and printing to real estate development. The company's current focus is on identifying and acquiring land, developing residential properties and infrastructure, and marketing these projects. Their current undertaking involves a land development and plotting project in Ahmedabad, spanning approximately 7.34 hectares. The company is actively engaged in levelling and landfilling work as a precursor to plotting and boundary creation, to sell plots of varying sizes to meet customer preferences.
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On Monday, shares of Vivid Mercantile Ltd hit a 5 per cent upper circuit to Rs 69.80 per share from its previous closing of Rs 66.48 per share with an intraday high of Rs 69.80 and an intraday low of Rs 67. The stock is up by 58.4 per cent from its 52-week low of Rs 44.07 per share. The company has a market cap of Rs 63 crore and 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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