This Small-Cap Stock Declares Record Date For Stock Split, Shares Up 5%

Saianand Commercial Limited came into existence on 22 December 1984. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. It is engaged in Other wholesale [Includes specialized wholesale not covered in any one of the previous categories and wholesale in a variety of goods without any particular specialization) and trades in chemicals.

It has a market capitalization of Rs 16 crore. The board of directors of the company has declared record date for stock split on August 3, 2022.

According to the BSE filing by Board of Directors of the company, "Further to our letter dated 29th July, 2022 informing your esteemed Exchange about a proposal being submitted to the shareholders at their 38th Annual General Meeting (AGM) to be held on 29th July 2022 seeking their approval for the split of the 1, 30, 00,000 (equity shares of Rs.10/- each into 13, 00, 00,000 equity shares of Rs.1/each, we wish to inform you that the shareholders have approved the proposal and the company has fixed 17th August, 2022 as the Record Date for the said split of the shares. In the above connection, we forward herewith the following documents: 1. A certified true copy of the resolution passed by the shareholders of the company at their 38th Annual General Meeting held on 29th July, 2022 for stock split. 2. Undertaking in the prescribed format. In this connection, we wish to inform you that the new ISIN number to be assigned by the depositories will be informed to your esteemed Exchange at least 2 days prior to the record date."

The stock has gained 4.95% in trade today till 1:31 pm. The current market price of the stock is Rs 14.21 apiece. The 52-week high of the stock is Rs 17.25 apiece and 52-week low is Rs 8.77 apiece, respectively.

Record Date: The record date is the date when the existing shareholder must own the stock to become eligible to get the new shares obtained by a stock split. Meanwhile, in case you happen to buy or sell shares between record date and effective date, then the right to new shares will transfer.