1:2 Bonus Shares, 1:5 Stock Split: 9th August - Record Date; Buy For Target Rs 270-320 Keeping SL At Rs. 193

Listed on the BSE, Maruti Infrastructure Ltd. has a market capitalisation of Rs 297 Cr. Founded in December 1994, this prominent firm in Ahmedabad specialises in providing professional construction and property management services for both residential and commercial properties. It is the infrastructure and construction of EWS Housing projects and urban infra projects. Following the announcement by the Board of Directors on the record date for the 1:2 bonus shares and 1:5 stock split, Maruti Infrastructure shares closed on the BSE on Wednesday at a 5% upper circuit limit of Rs 237.05 per share.

Maruti Infrastructure Record Date For Stock Split & Bonus Shares

The company has fixed Friday, 9th August for the purpose of a 1:5 stock split i.e. subdivision/split of existing 1 equity share of face value of Rs 10 each fully paid up into 5 equity shares of face value of Rs 2 each as well as 1:2 bonus shares i.e. one new bonus equity Share of Rs.2/- each for every two existing fully paid up equity shares of Rs.2/- each, held post-sub-division, subject to the approval of shareholders at the ensuing AGM scheduled to be held on Monday, July 29, 2024, as per a regulatory filing. 3,12,50,000 equity shares of Rs. 2/- each amounting to Rs. 6,25,00,000 is the total number of securities proposed to be issued as a part bonus shares by the company.

The pre-bonus paid-up share capital is Rs. 12.50 Cr divided into 6.25 Cr equity shares of Rs. 2/- each fully paid up. Post split of face value of shares from Rs 10 each to Rs 2 each. Whereas the post-bonus paid-up share capital will be Rs. 18.75 Cr divided into 9,37,50,000 equity shares of Rs. 2/- each fully paid up.

Maruti Infrastructure Q1 Result Annouhcement Date

"This is to inform you that pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 that a meeting of Board of Directors of the Company is scheduled to be held on Wednesday, 31st July, 2024, inter alia, to consider, approve and take on record the Unaudited Financial Results (Standalone & Consolidated) for the quarter ended on 30th June, 2024," the company has informed to stock exchanges.

Maruti Infrastructure Share Price Target

"Maruti Infrastructure Ltd's current price momentum and market standing have garnered much attention from traders and investors alike. Those confident about its growth prospects and plan to make the most of its current movement may consider exploring the suggested buying range of Rs. 210-240. For this stock, I recommend a holding period of 2-5 weeks to reach a target price of Rs. 270-320. However, I also urge traders and investors to set their stop loss at Rs. 193 and adhere to it closely to minimize their loss during a downturn in price movements," commented V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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