Penny stock is 89% above the 52-week-low, Board to mull stock split soon

The company has said in a stock exchange filing that “Pursuant to Regulation 29 and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Notice is hereby given that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday January 18, 2023 at Registered Office of the Company to consider and approve following items: 1. Un-audited Standalone and Consolidated Financial Results along with Limited Review Report of the Company for the Quarter and Nine Months ended on December 31st, 2022; 2. Proposal for sub-division of the Equity shares of the Company having a face value of Rs. 10/- each in such manner as may be determined by the Board of Directors.”

The shares of Vivanta Industries Ltd closed today on the BSE at ₹23.00 apiece level, down by 2.13% from the previous close of ₹23.50. The stock recorded a total volume of 98,024 shares. The stock has dropped 13.28% over the past five years, and in the past three years, it has climbed from ₹3.74 on January 6, 2020, to the current market price, resulting in a multibagger return of 558.16%. In the last 1 year the stock has fallen 47.78% and on a YTD basis from Monday 2, January 2023 to till date it has gained 15.48% so far. The stock had touched a 52-week-high of ₹54.45 on (13/01/2022) and a 52-week-low of ₹12.16 on (05/07/2022), indicating that at the current market price, the stock is trading 57.75% below the 1-year high and 89.14% above the 1 year low. For the quarter ended September or Q2FY23, the company posted a promoter shareholding of 69.97% and a public stake of 30.03%.