₹12 to ₹158: Penny stock turns multibagger in one year. Trade ex-split today in 1:10
Stock split 2023: A long term investor not just gain from appreciation in stock price but from various other rewards that a listed company announces for its loyal investors. Stock split is one such benefit that a long term investor enjoys from the rise in trade volume of the stock post-split. However, in the case of Deep Diamond India shares, the stock has tuned a multibagger in a period of near one year as it ascended from around ₹12 to ₹158 apiece levels, delivering around more than 1200 per cent return to its shareholders.
The small-cap stock is trading ex-split today as board of directors of the company had fixed 20th January 2023 as record date for stock sub-division. The company board had announced stock split in 1:10 ratio that means a shareholder’s stock will multiply by 10 times after stock subdivision. Now, Re 1 rise in the share would mean ₹10 (Re 1 x 10) for those shareholders of the company who are beneficiaries of this 1:10 stock subdivision.
The small-cap company informed Indian bourses about stock subdivision and record date for for stock split citing, “In connection with the above subject matter, we furnish hereunder the details of the Record Date for the following purpose as mentioned below: Friday, January 20, 2023 for the purpose of Sub-division of Face Value of Equity Shares from Rs. 10/- each to Face Value of Rs. 1/- each.”
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The stock is available for trade on BSE and it is quoting ₹16 apiece after split in 1:10. The stock had ended at around ₹158 on Thursday, logging near 1200 per cent rise in last one year. The BSE listed multibagger penny stock had ended with a market cap of around ₹70 crore, which has now come down at around ₹7 crore in early morning deals on Friday after 1:10 stock split. After stock split adjustment, the new w of the stock is ₹1.10 whereas its new 52-week high is ₹17.20 apiece on BSE.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.