Multibagger Stock Declares Major Update On 1:10 Stock Split; Scrip Up 2,749% In 1 Year

The market capitalization of mid-cap construction company SG Mart Ltd., which ended on Tuesday, was Rs 6,532.06 Cr. After the stock split announcement, there was a strong buying trend, and as a result, the shares ended at the 2% upper circuit limit of Rs 11712.50 each. One of Dalal Street's multibagger stocks recently is SG Mart, which produced a spectacular multibagger return of 2,749% in only a single year. The corporation has announced a sub-division of equity shares, for which the record date is tomorrow, Thursday, February 22.

On February 20, Tuesday, SG Mart said in a stock exchange filing regarding a major update on stock split that "This is in continuation to our communication dated February 10, 2024 with respect to Sub-Division of 1 Equity Share of nominal value of Rs. 10/- (Rupees Ten only) each fully paid up into 10 Equity Shares of Re. 1/- (Rupees One only) each fully paid up with effect from February 22, 2024 i.e., the record date. Please be informed that the Sub-Division of Equity Shares will take effect under the new ISIN- INE385F01024."

"We are pleased to inform you that your ISIN - INE385F01024 - Equity shares of Rs 1/- each (Sub Division) has been made live in the CDSL system on 16-February-2024 Should you require any further information or clarifications, please feel free to contact the Ms. Rupali Bhovar / Ms. Rensi Nadar / Ms. Vinifer Kodia on [phone] or [phone] or [phone] or e-mail us on [e-mail] or [e-mail] or [e-mail]," further said the company in a regulatory filing.

Apart from the stock split, SG Mart has also declared bonus shares in 1:1 ratio. For the purpose of ascertaining the eligibility of securityholders entitled for issuance of bonus shares of the company in the ratio of 1:1 i.e. 1 equity shares for every 1 equity shares having a face value of Re. 1/-, considering the post sub-division/split of face value of equity shares, the company has fixed Thursday, February 22, 2024 as the record date.

The bonus shares will be credited/dispatched within 2 months from the date of Board's approval i.e. on or before March 7, 2024.

Over the past five years, the shares of SG Mart Ltd. have returned 10,950%, and over the last three years, 10.646%. Over the past year, the stock has produced a multibagger return of 2,493% and 23.10% YTD. Over the past half-year, the stock has produced a 247.04% multibagger return.