Multibagger stock rallies 111% YTD, Board sets record date for stock split
With a market valuation of Rs. 1,375.64 Cr., Lancer Container Lines Ltd. is a small-cap company that engages in the transport services industry. One of the top companies in India’s logistics sector is Lancer Container Lines. One of India’s leading integrated shipping and logistics service providers is Lancer Container Lines Ltd. Lancer Container Lines, a company with a BSE listing that provides a variety of shipping services, has strong relationships in India, the Indian subcontinent, South East Asia, the Far East, the MENA area, and CIS nations. The Board of Directors of the company has fixed Friday, December 16, 2022 as the record date for the purpose of stock split which market watchers may give consideration.
On 28th October 2022, the company announced that “The Board recommended the Split/Sub-division of Ordinary Equity shares of the Company from Face Value of Rs.10/- each to Face Value of Rs.5/- each, subject to the approval of Members of the Company in the Extra Ordinary General Meeting. The record date for the sub-division of shares shall be intimated in due course.”
For the purpose of sub-division of face value of equity shares from Rs. 10/- each to face value of Rs. 5/- each, the Board of the company announced that Friday, December 16, 2022 has been fixed as the record date.
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The shares of Lancer Container Lines Ltd closed today at ₹456.40 apiece, up by 3.00% from the previous close of ₹443.10. The stock has produced a multibagger return over the past five years of 132.87% and a multibagger return over the past year of 103.11%. The stock value has risen from ₹216.05 as of May 10, 2022, to the current market price on a year-to-date basis, achieving a multibagger return of 111.53% so far in 2022.
The stock had touched a 52-week-high of ₹517.95 on (16/11/2022) and a 52-week-low of ₹152.15 on (10/03/2022), indicating that at the current market price the stock is trading 11.88% below the 1 year high and 199.96% above the 1 year low. For the quarter ended September 2022 or Q2FY23, the company reported a promoter shareholding of 55.06% and a public shareholding of 44.94%. At today’s closing price the stock was seen trading above 5 days, 50 days, 100 days and 200 days SMA but lower than the 10 days and 20 days Simple Moving Average (SMA).
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.