After gaining 114% in 6 months, this multibagger stock declares 1:5 stock split

In a stock exchange filing, the company said that its Board of Directors has considered and approved “1. In suppression of resolution passed at the Board Meeting held on 10th September 2022, Increase in Authorised Share Capital upto Rs. 12,00,00,000/- (Rupees Twelve Crore only) divided into 2,40,00,000 (Two Crore Forty Lakh) equity shares of the Company, having a face value of Rs. 5/- (Rupees Five only) each and consequent alteration of the Memorandum of Association of the company, subject to the approval of members of the company. 2. Sub-Division/Split of existing equity share of the Company from 1 (one) equity share having face value of Rs. 5/- (Rupees Five only) each to 5 (five) equity shares having face value of Re. 1/- (Rupee One only) each. fully paid-up, subject to approval of members. The record date for sub-division/split shall be decided by the board and will be intimated to exchange.”

Considering the stock split ratio of existing 1 equity share having face value of Rs. 5/- each will be sub-divided/split into 5 equity shares having face value of Re. 1/- each, the Board informed stock exchanges regarding the rationale behind the split/consolidation saying to enhance the liquidity of the company’s equity shares in the capital market and encourage the participation of small investors by making company’s share more affordable. And the expected time of completion is approximately 2 months from the date of receipt of members approval through postal ballot, according to a stock exchange filing.

“The authorised share capital of the Company is Rs. 12,00,00,000/- (Rupees Twelve Crore only) consisting of 2,40,00,000 (Two Crore Forty Lakh) Equity Shares of Rs. 5/- (Rupees Five only) each with power to increase and /or reduce the capital of the Company as provided in the Articles of the Company. The authorised share capital of the Company is Rs. 12,00,00,000/- (Rupees Twelve Crore only) consisting of 12,00,00,000 (Twelve Crore) Equity Shares of Re. 1/- (Rupee One only) each with power to increase and /or reduce the capital of the Company as provided in the Articles of the Company,” further informed the Board to the stock exchanges.

The shares of KCD Industries India Ltd closed today on the BSE at ₹98.75 apiece level, up by 2.33% from the previous close of ₹96.50. The stock recorded a total volume of 1,311 shares compared to the 20-Day average volume of 3,605 shares. The stock has produced a multibagger return of 607.14% over the past five years and a multibagger return of 231% during the past three years. The stock has produced a multibagger return of 156.81% over the past year, and a multibagger return of 114.05% during the past six months. The stock had touched a 52-week-high of ₹110.75 on (23/12/2022) and a 52-week-low of ₹36.90 on (14/09/2022).