1:10 Stock Split For First Time; NBFC Stock Below Rs 15, Freezes At New 52-Week High, Gives 107% Returns

Penny stock in the NBFC sector, Minolta Finance witnessed huge buying sentiment on Thursday, December 4, 2024. The multibagger penny stock freezes at its new 52-week high, hits upper circuit and rises by more than 107% from its 52-week low. The NBFC stock is going to split in the ratio of 1:10 for the first time. The latest bullish trend comes after board of the company approved the sub-division.

Minolta Finance Share Price:

On December 5th, the penny stock locked at its 5% upper circuit on BSE, to Rs 12.93 with market cap at Rs 12.93 crore. This is also its new 52-week high. The has skyrocketed by 107.2% from its 52-week low of Rs 6.24 apiece.

As per BSE data, the stock's price-to-equity ratio stood at 177.37x, while return on equity was at 0.68%.

In 5 sessions, the stock zoomed by 21.3%, while in a month, the gains are about 34.8%. In six-months, the stock rallied by 78.34%. Year-to-date, Minolta Finance stock has advanced by nearly 80.

Minolta Finance Stock Split:

The strong bullish trend comes after the company's board approved the stock split ratio of 1:1. This would mean that Minolta Finance will split its 1 existing equity share with a face value of Rs 10 each into ten equity shares with a face value of Re 1 each.

The reason behind the stock split is to enhance the liquidity of Equity Shares and widen the shareholders' base by making the Equity Shares more economical to the investors.

The company tentatively plans to complete the stock split action within 3 months from the date of the board meeting.

Generally, share splits mean that listed companies can split their existing shares into a ratio decided by them for a host of reasons. These could be done to improve liquidity, lessen the value of the stock, make it cheaper or simply attract new buying from both existing and new investors.

About Minolta Finance Ltd:

Minolta Finance was incorporates in the year 1993 with the objective of financial activities. It is a non-banking financial company registered with the Reserve Bank of India. The company has been listed on the Bombay Stock Exchange since 1996 and also in the Kolkata & Guwahati stock exchange. The company is mainly involved in the activities of inter-corporate deposits, share trading, leasing & another financial activity.