Stock Split In 1:10 Ratio: 8th January 2025 Record Date; What Daily Charts Suggests?

Since 1995, Kamdhenu Limited has been a reputable flagship firm in the steel production industry. In 2008, Kamdhenu also ventured into the decorative paint industry. A wide variety of products, such as reinforcement steel bars, structural steels, binding wire, color-coated sheets, PEB, pipes, and many more, are manufactured, marketed, branded, and distributed by Kamdhenu Group. The corporation is one of the top producers of steel, with more than 50 manufacturing facilities nationwide.

Kamdhenu Stock Split Record Date

"In continuation to intimation made vide our Letter No. KL/SEC/2024‐25/68 dated 11th December, 2024 and pursuant to Regulation 42 and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that Kamdhenu Limited (the Company) has fixed Wednesday, 8th January, 2025 as the "Record Date" for determining entitlement of Equity Shareholders for the purpose of sub‐division / split of existing Equity Shares of the Company having face value of Rs. 10/‐ (Rupees Ten only) each fully paid‐up into Equity Shares having face value of Re. 1/‐ (Rupee One only) each fully paid‐up, ranking pari‐passu in all respects, as approved by the Equity Shareholders of the Company by way of Ordinary Resolution passed at the 01/2024‐25 Extra - Ordinary General Meeting held on Wednesday, 11th December, 2024," said Kamdhenu in a stock exchange filing.

Kamdhenu Financials

In the September 2024 quarter, the company's profit after tax jumped by 57% to Rs 16 crore. According to a regulatory filing, the company reported a Profit After Tax (PAT) of Rs 10.2 crore for the July-September quarter of FY24. The company's income zoomed to Rs 196.17 crore in Q2FY25 from Rs 186.59 crore in Q2FY24.

"Indian consumers are increasingly favoring branded TMT bars over unbranded options, driven by a rising awareness of quality and safety in construction materials. With growth in infrastructure projects and supportive government regulations, quality and durability are top priorities for long-term value. Kamdhenu's branded TMT bars provide consistent quality, making them a preferred choice in this evolving construction landscape. Holding a 20% market share in the organized retail TMT bar segment, we're confident in our ability to grow our market presence in the years ahead. Our commitment to excellence and quality has been pivotal to our success, and we remain focused on advancing our products and strengthening our brand. Looking ahead, we aim to double our sales in the next 4-5 years through both our franchisees and in-house manufacturing," said Mr. Satish Kumar Agarwal, Chairman & Managing Director.

Kamdhenu Share Price Target

"Kamdhenu Ltd stock price is bearish on the Daily charts with strong resistance at 538. A Daily close below support of 497 could lead to a target of 444 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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