2:1 Stock Split of Power Stock: January 20, 2025 Record Date; High Growth Stock To Invest In?

Nava Limited is a publicly traded international firm that was founded in 1972 and has operations in mining, metals, energy, healthcare, and commercial agriculture. Nava, one of the top manufacturers of ferroalloys in India, also runs Zambia's largest mine-to-mouth power plant. Nava has made investments in healthcare in Southeast Asia and commercial agriculture in Zambia as part of its worldwide expansion. Following the company's announcement of the record date for the stock split, Nava's shares closed Friday's trading session 1.38% higher at Rs 997.75 on the BSE, with a market capitalisation of Rs 15,604.19 Cr.

Nava Stock Split

"Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, the Board of the Company has fixed Monday, January 20, 2025 as the "record date" for the purposes of determining the eligibility of shareholders for sub-division (stock-split) of existing 1 (One) Equity Share of face value of Rs. 2/- (Rupees Two Only) each fully paid up into 2 (Two) Equity Shares of face value of Re. 1/- (Rupee One Only) each fully paid up," said Nava in a stock exchange filing.

Nava News

"This is to inform that as per the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 (as amended from time to time) and the Company's Code of Conduct for regulating, monitoring and reporting of trading by Insiders and Code of Practices and Procedures for fair disclosure of Unpublished Price Sensitive Information, the trading window for dealing in the securities of the Company will remain closed from January 01, 2025 till the expiry of 48 hours after the declaration of unaudited financial results for the quarter and nine months ended December 31, 2024, for all designated persons, their immediate relatives and all connected persons covered under the said Code," Nava informed stock exchanges on December 27, 2024.

Nava Financials

In the September 2024 quarter, the company's consolidated net sales were Rs 900.48 crore, a 2.33% drop from the September 2023 quarter's Rs 921.99 crore. In Q2FY25, the company's consolidated net profit was Rs. 251.08 crore, rising 69.33% from Q2FY24's Rs. 148.28 crore. EBITDA climbed 14.35% from Rs. 398.92 crore in the quarter ended September 2023 to Rs. 456.15 crore in the quarter ended September 2024.

With a US$10 million dividend from Nava Bharat (Singapore) Pte Ltd (NBS), the company's standalone profit after tax for the quarter was Rs. 146.1 crore.

Ashwin Devineni, CEO of NAVA Limited, commented on the results saying, "Our latest financial results showcase Nava Limited's resilience and strategic direction, while enhancing profitability across sectors. Our diversified portfolio and prudent financial management have not only bolstered our cash flows but have also enabled significant debt reduction, thus enhancing shareholder value. Furthermore, our expansion in Zambia with a new integrated sugar plant and our robust agricultural initiatives position us to tap into high-growth opportunities in Africa. The board's decision for an equity share split aims to make Nava's shares more accessible to a broader investor base, underscoring our commitment to sustainable growth and value creation."

Nava Share Price Target

"Nava stock price is slightly bullish on the Daily charts with strong support at 985. A Daily close above resistance of 1007 could lead to a target of 1100 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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