1:2 Stock Split: Record Date Revised; Buy The High-Promoter Holding Stock?

As of Thursday's BSE closing session, United Van Der Horst Ltd, a small-cap capital goods company, has a market valuation of Rs 169.50 Cr. One of the largest service providers for all maintenance and breakdown requirements is this company. UVDHL, sometimes referred to as United Van Der Horst Ltd., is a pioneer in the heavy mechanical core space. It provides services to companies like TATA, JSW, Reliance Industries, Mahindra, ONGC, SAIL, Essar, etc. The company has announced a 1:2 stock split to enhance the liquidity of its equity shares and to encourage the participation of small investors by making equity shares of the company more affordable to invest in the equity shares of the company. For the purpose of the same the company had earlier fixed March 21, 2024 as the record date but it has been now revised to March 26, 2024.

United Van Der Horst Stock Split

"With reference to our earlier intimation dated Tuesday, February 27, 2024 about Fixing the Record Date for the purpose of split of shares would be March 21,2024. In continuation to this, now it has been decided to make revision in record date and to change it from March 21, 2024 to March 26, 2024. Therefore, in terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ["SEBI (LODR), Regulations"] and rules made there under, the new Record Date is now fixed for Tuesday, March 26, 2024 as 'Record Date' for the purpose of determining the eligibility of shareholders of the Company for Sub-division/Split of each fully and partly paid-up equity share having face value of Rs.10/- (Rupees Ten Only) each be Sub-divided into 2 (Two) fully and partly equity shares having Face value of Rs.5/- (Rupees Five Only), as approved by the shareholders through Postal Ballot on February 24, 2024," said United Van Der Horst in a regulatory filing on Thursday.

United Van Der Horst Financials

The company posted a standalone net sales of Rs 6.00 crore in the December 2023 quarter up 35.74% from Rs. 4.42 crore in the December 2022 quarter. Its quarterly net profit stood at Rs. 0.89 crore in Q3FY24 up 144.65% from Rs. 0.37 crore in Q3FY23. The company's EBITDA reached Rs. 2.40 crore in the reporting quarter up 60% from Rs. 1.50 crore in the same quarter of the previous fiscal year.

United Van Der Horst Share Price Target

United Van Der Horst is bearish on the daily charts with strong resistance at 313. A daily close below support of 251 could lead to a target of 220 in the near term, said AR Ramachandran from Tips2trades.

United Van Der Horst Shareholding

During Q3FY24, the company reported promoters' shareholding of 72.07%, DIIs stake of 0.02% and public stake of 27.91%. The promoter stake of United Van Der Horst during the December 2023 quarter was much higher than its peers such as NBCC, CDSL, and SPARC.

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