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Multibagger stock sets record date for 1:5 stock split, shares up to 100% in 1 year

 


Akashdeep Metal Industries Limited is a Small-cap company with a market cap of ₹97.15 Crore and operating as a Non-Banking Financial Company (NBFC) in Financial services sector.

Akashdeep Metal Industries Limited is a Small-cap company with a market cap of ₹97.15 Crore and operating as a Non-Banking Financial Company (NBFC) in Financial services sector. Last month, the board of directors of Akashdeep Metal Industries had announced a stock split in the ratio of 1:5. For the purpose of determining the eligibility of shareholders, the Company has fixed February 23, 2023 as the record date.

"This is to inform that the members of the Company have voted through postal ballot for the sub-division of Equity Shares of the Company from one (1) Equity Share of face value of Rs.10/- each (Rupees Ten only) into five ( 1). 5) Fully paid-up equity shares of face value of Rs.2/- each (Rupees Two only). In this regard, the regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 42, we offer the details of the record date as February 23, 2023," Akashdeep Metal Industries said in a stock exchange filing.

1:5 ie, one existing Equity Share of the Company of face value Rs.10/- each fully paid-up shall be sub-divided into 5 Equity Shares of face value Rs.2/- each fully paid-up. The Corporate Action has been announced by Akashdeep Metal Industries for which the interested shareholders should hold the shares of the company in their demat account on the record date.

Recently, Akashdeep Metal Industries said in a stock exchange filing that the Board of Directors of the company in its meeting held today i.e. Friday, February 10, 2023 has appointed Mr. Ravindra Kumar Das as Additional Executive Non-Independent Director of the company. w.e.f. February 10, 2023.

In Q3FY23, Akashdeep Metal Industries' net profit declined 8.77% YoY to Rs. 1.04 cr to Rs. 1.14 cr in Q3FY22. In the quarter ending December 2022, the firm reported net sales of ₹5.47 crore, as compared to ₹2.14 crore in the quarter ending December 2021, a growth of 155.61% year-on-year. The EPS of Akashdeep Metal Industries stood at ₹1.08 as against ₹1.54 in a year-ago quarter.

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