Smallcap plywood boards and laminates company, Rushil Decor witnessed heavy buying on July 8th after the company announced the ratio of its sub-division. That being said, Rushil Decor will split for the first time. Rushil has fixed the record date for its stock split. Apart from this, the company also announced a change in key senior management and the incorporation of a new subsidiary.
Rushil Decor Share Price:
On BSE, Rushil Decor's stock price ended at Rs 365 apiece up by 6.06% on Monday, with a market cap of Rs 968.77 crore. During the trading session, the stock gained by nearly 8% with an intraday high of Rs 371 apiece.
The stock is currently moving towards its 52-week high of Rs 406.70 apiece. While its 52-week low is at Rs 261.45 apiece. The stock's price-to-equity ratio is at 21.19x, and the return on equity is at 7.94% on BSE.
In 30 days, Rushil Decor stock gained by nearly 15% on BSE.
Rushil Decor Stock Split:
Rushil has announced its first-ever stock split in the ratio of 1:10. Simply put, Rushil's 1 (one) equity share having a face value of Rs. 10/- (Rupees ten only) each, fully paid-up, will be sub-divided into 10 (ten) equity shares having face value of Re. 1 /- (Rupee one only) each, fully paid-up.
To determine eligible shareholders for the stock split, Rushil Decor fixed August 9, 2024, as the record date.
Rushil Decor Management:
Also, Rushil Decor re-appointed Ramanikbhai Tejabhai Kansagara for another term of five consecutive years as a Whole-Time Director liable to retire by rotation w.e.f. August 01, 2024, up to July 31, 2029.
Rushil Decor New Subsidiary:
The company proposed to incorporate Rushil Fasteners Private Limited or any other name as may be approved by the Central Registration Centre, Ministry of Corporate Affairs.
The proposed company to be incorporated would be in the business of Fasteners and other allied items. The business of the proposed Company is complementary or support to the main line of the business of the listed entity.
As per the regulatory filing, initially, at the time of incorporation Rs. 1,00,000/- (Rupees One Lakh Only) divided into 10,000 (Ten Thousand) equity shares with a nominal value of Rs. 10/- (Rupees Ten only) each. The same will be increased to Rs. 20 crore or more as per the requirement of the project.
About Rushil Decor:
Rushil Decor offers a wide product portfolio of Laminates, MDF Boards, HDFWR (High-Density Fiber Water Resistant) Boards, Pre-Laminated Decorative MDF Boards and PVC Boards with a fully supported robust after-sales service network under the VIR brand.
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