1:1 Stock Split: 05-11-2024 Record Date; Bullish/Bearish On The Daily Charts?

The top producer of PVC flooring, artificial leather, and PVC films and sheeting in India is Premier Polyfilm Ltd (NDA). Founded in 1992, Premier Polyfilm Ltd is a prominent producer of speciality calendared films and sheets. Following the announcement of the record date for the 1:1 stock split by the company's board of directors, Premier Polyfilm's shares closed 20% higher on Tuesday at Rs 356.58 per share on the NSE.

Premier Polyfilm Stock Split

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Company has fixed Tuesday, 05th November, 2024 as the Record Date, for the purpose of ascertaining the eligibility of the shareholders entitled for the following matter, in accordance with the approval of shareholders obtained on Monday, 16th September, 2024 at the 32nd Annual General Meeting of the company: 1. Sub-division of 1 (one) Equity share of face value of Rs. 5/- each fully paid-up to 1 (One) Equity shares of face value of Rs. 1/- each fully paid-up," said Premier Polyfilm in a stock exchange filing.

Premier Polyfilm Q2 Results

Premier Polyfilm's net profit increased 60.74% to Rs 7.86 crore in the quarter that ended in September 2024 from Rs 4.89 crore in the quarter that ended in September 2023. In the quarter that ended in September 2024, sales increased by 3.39% to Rs 69.16 crore, compared to Rs 66.89 crore in the quarter that ended in September 2023.

Premier Polyfilm Share Price Target

"Premier Polyfilm stock price is overbought yet bullish on the Daily charts with the next resistance at 309. Investors should be booking profits at current levels as a Daily close below support of 274 could lead to a target of 217 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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