Stock split & bonus issue: This small-cap company revised record date; shares soared more than 735 per cent in just one year!
The company announced the stock split of each existing equity share of face value of Rs 10 into ten equity shares of face value of Re 1 and issue of two bonus shares for every one equity share held by the shareholder.
Indian headline indices ended lower on Friday, mainly dragged down by steep decline in the metal sector. With losses of over 2 per cent, BSE Metals was beaten by Hindalco Industries and National Aluminium Company Ltd to emerge as the session's worst performing sector. Broader indices also fell in line with the main indices, keeping the advance-decline ratio strongly in favour of declines.
Captain Pipes Ltd, a multibagger Small-Cap stock, was among the trending stocks after the company announced the revised record date for determining the eligibility of shareholders entitled to stock split and bonus. As there must be five working days between the record date and the EGM, the record date has been revised to March 3, 2023.
The company announced the sub-division/ stock split of each existing equity share of face value of Rs 10 into ten equity shares of face value of Rs 1 and issue of two bonus equity shares of the company for every one fully paid-up equity share held by the shareholder.
Shares of Captain Pipes Ltd skyrocketed over 735 per cent in the past year by consistently hitting upper circuits, rewarding investors with outstanding multibagger returns of more than 255 per cent in the last six months!
Captain Pipes Ltd is a manufacturer and exporter of uPVC Column Pipes, uPVC Plumbing Pipes and fittings, CPVC Plumbing Pipes and fittings, Casing Pipe and PVC Pressure Pipes in India.
Keep a close eye on this scrip for the upcoming sessions!