Stock Split from 10 to Rs 1; Record Date set as April 19: Promoters of the company sold 18.45 per cent stake of this debt-free penny stock!

The stock is up by per cent from its 52-week low of Rs 60.38 per share and gave multibagger returns of 5,800 per cent in 3 years.

Pulsar International Ltd informed that the Board of Directors of the company determining the eligibility of shareholders for sub-division/split of every 1 equity share having a face value of Rs 10 each, fully paid up into 10 equity shares having a face value of Rs 1 each fully paid-up. The company fixed the record date for the stock split as Friday, April 19, 2024.

Pulsar International Ltd, founded in 1990, is a finance and investment company. Though initially involved in trading, imports/exports and consultancy services, their current revenue comes primarily from consultancy fees and sales of work contract materials, indicating a shift in their business focus.

The company has a market cap of over Rs 60 crore with a 3-year stock price CAGR of 300 per cent. According to Quarterly Results (Q4FY23), the net sales increased by 4,456 per cent to Rs 7.29 crore and net profit increased by 100 per cent to Rs 0.20 crore compared to Q3FY23. The promoters of the company sold an 18.45 per cent stake in the company and decreased their stake to 10.44 per cent in March 2024 compared to 28.89 per cent in March 2023. The company is debt-free as there is no loan on the company nor the company is paying any interest.

Also Read: What is Book Value and Book Value Per Share? Importance & limitations of book value!

On Wednesday, shares of Pulsar International Ltd gained 1.09 per cent to Rs 93 per share from its previous closing of Rs 92 with an intraday high of Rs 93 and an intraday low of Rs 91. The stock is up by per cent from its 52-week low of Rs 60.38 per share and gave multibagger returns of 5,800 per cent in 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.