Small Cap Stock Declares Big Update On 1:2 Stock Split Ahead of Record Date On March 26; Buy?

With a market valuation of roughly Rs 200 Cr, United Van Der Horst Limited is a small cap company in the capital goods industry. As the company approaches its record date for a stock split, it was seen during Thursday's trading session to be caught in a 4% upper circuit limit at Rs 321.50. The record date for the 1:2 stock split has been set by United Van Der Horst Limited for Tuesday, March 26, 2024. However, the firm released an important update on the same action prior to the record date.

United Van Der Horst Stock Split Record Date

"This is in continuation to our intimation dated February 29, 2024 regarding Sub-division/Split of Equity Shares of the face value of Rs. 10/- each into Equity Shares of the face value of Rs. 5/- each with effect from Tuesday, March 26, 2024 ("Record Date"). In this regard please be informed that the Sub-Division of Equity Shares will take effect under the new ISIN i.e. INE890G01021," said United Van Der Horst in a regulatory filing on March 19, 2024.
According to the company ISIN - INE890G01021 - equity shares of Rs 5/- each (Sub Division) have been made live in the CDSL system on 16-March-2024.

United Van Der Horst Stock Split Update

"This is in continuation to our intimation dated 19th March, 2024 regarding allotment and Activation of ISIN INE890G01021 for Sub-division/Split of Equity Shares by Central Depository Services (India) Limited we wish to further inform you that the same was activated by National Securities Depository Limited. In this regard please be informed that the Sub-Division of Equity Shares will take effect under the new ISIN i.e. INE890G01021," said the company in a BSE filing on 20-03-2024.

United Van Der Horst Share Price Target

United Van Der Horst is bullish on the Daily charts with strong support at 295. A Daily close above resistance of 33 could lead to a target of 383 in the near term, said AR Ramachandran from Tips2trades.

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