Multibagger Stock BCL Industries Announces 1:10 Stock Split: Check Record Date

BCL Industries has announced the sub-division of equity shares. Its shares will split in a 10 for 1 ratio. The board of BCL Industries had earlier approved a proposal to split the shares of the company and also set the record date.

"Sub-Division of every 1 (One) Equity Share of the Nominal/Face Value of Rs. 10/- (Rupees Ten Only) each into 10 (Ten) Equity Shares of the Nominal/Face Value of Rs, 1/- (Rupee One Only) each," the company said in a statement uploaded on exchanges.

"The Board of Directors of the company has passed the necessary resolution to fix the record date Friday, Oct. 27 for the purpose of sub-division of every 1 equity share...into 10 equity shares...," the statement added. The current face value of each share is Rs 10 and after the split, the new value of each share would be Re 1.

On the rationale behind the move, the company said it will increase the number of shareholders of the company. BCL Industries is engaged in the manufacturing of Edible Oils, Distillery and Real Estate. Its segments include Oil and vanaspati, Distillery and Real Estate.

On Wednesday, the shares of BCL Industries closed on the BSE at Rs 484.10 apiece down by 3.62% from the previous close of Rs 502.30. The stock reached a 52-week-high of Rs 588.00 on (18/09/2023) and a 52-week-low of Rs 276.15 on (15/11/2022), indicating that at the current market price, the stock is trading at a discount of 17.67% from its 1 year high and with an upside gap of 75.30% from its 1 year low.