Stock split is an interesting corporate action that many traders look forward to. Two leading stocks namely Canara Bank and Bhagiradha Chemicals are all set to split in May. Meanwhile, 2 companies namely KSB Ltd and Davangere Sugar Company approved stock split and yet to declare record date for the same.
Canara Bank Share To Split On May 15
PSU lender Canara Bank will hold meeting of Board on May 8, 2024 to consider, approve financial results and recommend dividend for the financial year 2023-24, if any. Last trading price of Canara Bank share on BSE is Rs 617.55 per share as on April 26, 2024. The bank has a market cap of Rs 1,12,031.61 crore. The PE of the bank is 8.02. Canara Bank shares zoomed 100% in last 1-year and soared 356% in last 3-years. Canara Bank recommended 1:5 stock split and fixed May 15 as the record date for sub-division of shares.
As per the regulatory filing of Canara Bank dated April 19, 2024, “this is to inform you that the Bank has fixed Wednesday, 15th May 2024 as the “Record Date” for determining entitlement of Equity Shareholders for the purpose of sub division/ split of existing Equity Shares of the Bank, such that 1 (one) equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid up, will be sub-divided into 5 (Five) equity shares having face value of Rs. 2/- (Rupees Two only) each, fully paid up, ranking pari-passu in all respects, which was approved by the Reserve Bank of India (RBI).
Bhagiradha Chemicals & Industries Ltd To Trade Ex-Split
Small cap company Bhagiradha Chemicals & Industries Ltd share price on BSE is Rs 1925.60 per share. The company’s market cap is Rs 2003.8 crore. The 52-week high price is Rs 2174.00 per share and 52-week low price is Rs 1100.00 per share, respectively. Bhagiradha Chemicals shares zoomed 38% in last 1-year and soared 343% in last 3-years. Record date for stock split is May 2, 2024.
Bhagiradha Chemicals Approves 1:10 Sub-Division Of Shares: As per the regulatory filing of the company dated March 5, 2024, “Sub-Division/ Split of 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each, fully paid up into 10 (ten) equity shares of face value of Re. 1 /- (Rupee one only) each, fully paid up.”
KSB Ltd Approves 1:5 Stock Split, Record Date Yet To Be Announced
Last trading price of KSB Ltd share on BSE is Rs 4678.5 per share with intraday fall of 5.12%. The 52-week high price of KSB Limited is Rs 5185.00 per share and 52-week low price is Rs 2014.65 per share, respectively. The market cap of the company is Rs 16,283.63 crore. KSB share offered return of 110% in last 1-year and gained 588% in last 5-years.
As per the regulatory filing of the company dated April 26, “The company approved sub-division/split of 1 (One) equity share of the Company having nominal/face value of INR 10 each (Rupees Ten only), into 5 (Five) equity shares of INR 2 each (Rupee Two only), subject to approval of the Members of the Company and any other regulatory authorities, if any.”
Davangere Sugar Company Approves 1:10 Stock Split
Last trading price of Davangere Sugar Company share on BSE is Rs 93.67 per share on BSE. The 52-week high price is Rs 120.00 per share and 52-week low price is Rs 49.16 per share. The bank has a market cap of Rs 881.29 crore. Davangere Sugar Company share gave return of 19% in last 1-month and zoomed 548% in last 2-years.
Davangere Sugar Company Approves Split/Sub-Division: As per the BSE filing of the company dated April 19, “The Board of Die€Ion of the Company at its boad meeting held today has accorded its approval to sub-divide/split the Equity Shares ofthe Company such that I (One) Equity Share having nomineyface value ofRs. l0/- (Rupees Ten only) each be sub-divided into l0 (Ten) Equity Shares having nominayfac€ value of Rs. 1/- (Rupees One Only) each subject to approval of the shareholders of the Compaly or any other regulatory authority, if any. Approved consequential alteration oftie Capital Clause i.e., Clause V of the Memorardurn of Association of the Company, subject to the approval ofthe shareholders of the Company.”
