1:2 Stock Split On Radar By May 9 Record Date: Penny Stock Under Rs 10 Trading At Lower Circuit; Enter Now?

Navkar Urbanstructure is a small building company situated in Gujarat. The BSE-listed firm has more than 27 years of expertise with drinking water and sewage transmission pipes of different diameters, as well as sewage treatment plants and pumping stations. With a market valuation of Rs 308.01Cr, Navkar Urbanstructure's shares were trading at a lower circuit limit on Wednesday at Rs 5.49 per piece. Following the Board's announcement of the record date for the 1:2 stock split, there was selling pressure in the shares.

Navkar Urbanstructure Stock Split

"Pursuant to Reg. 42 of the Listing Regulations and relevant provisions of the Companies Act, 2013 and Rules made thereunder, the Company has fixed Friday, May 9, 2025 as the 'Record Date' for the purpose of determining the eligibility of Shareholders for the purpose of sub‐division /split of Sub‐ division of every 1 (One) equity share of the nominal/face value of Rs. 2/‐ (Rupees Two only) each, fully paid up, into 2 (Two) equity shares of the nominal/face value of Re. 1/‐ (Rupees One only) each fully paid up," said Navkar Urbanstructure in a stock exchange filing.

Navkar Urbanstructure Bonus Issue Approval

"We hereby confirm that company has received in-principal approval for Issue of 336628500 bonus equity shares from BSE dated April 21, 2025. We would like to clarify that the bonus shares were issued in the ratio of 3:2. During the process, fractional entitlements resulting from the bonus ratio were rounded down to the nearest lower integer for each shareholder. This method of rounding off led to a cumulative reduction of 2,289 shares in the total allotment compared to the quantity permitted by BSE/NSE. We confirm that this adjustment was necessary to ensure that no fractional shares were allotted and to maintain consistency in the corporate action. So, it here by confirmed that 33,66,26,211 bonus equity shares issued and allotted with DNR from 224419001 to 561045211 under the present bonus issue," Navkar Urbanstructure informed stock exchanges on April 28.

For the purpose of above said bonus shares, Thursday, April 24, 2025 was fixed as the record date by the company.

Navkar Urbanstructure Share Price Target

"Navkar Urban stock price is slightly bullish on the Daily charts with strong support at 5.5. A Daily close above resistance of 6.35 could lead to a target of 7.5 in the near term," commented A R Ramachandran, Independent Research Analyst.

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