1:2 Stock Split: Record Date Soon On 26th March; Bet To Be Eligible?

As of Friday's closing session, United Van Der Horst Ltd., a small-cap company in the industrial sector, has a market capitalization of Rs 165.86 Cr. The majority of the key industries, including the mining, oil field, power plants, marine, petrochemical, and other large processing sectors, are served by the company's reconditioning, re-standardizing, and manufacturing services. It is a leader in the heavy mechanical core industry, having worked with TATA, JSW, Reliance Industries, Mahindra, ONGC, SAIL, Essar, and other notable companies. In the last trading session, the stock ended at a 5% upper circuit limit at Rs 268.55 apiece on BSE ahead of record date for stock split falling on soon.

United Van Der Horst Stock Split

"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 BSE filing.

United Van Der Horst Financials

On a standalone basis, the company reported 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. Its EBITDA reached Rs. 2.40 crore in the quarter reported of the current fiscal up 60% from Rs. 1.50 crore in the same quarter of FY23.

United Van Der Horst Share Price Target

United Van Der Horst is bearish on the daily charts with strong resistance at 334. A Daily close below support of 251 could lead to a target of 220 in the near term, said AR Ramachandran from Tips2trades.

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