1:10 Split Record Date On March 14: Penny Stock Hits 2% Upper Circuit On Ex-Date; Strong BUY Or Time To Sell?

Mehai Technology Ltd, a penny stock engaged in trading and distributors, turned ex-split on March 13, 2025, ahead of its record date on March 14. The penny stock has split for the first time, and the ratio is 1:10. On its ex-date, the stock touched an upper circuit of 2%. The stock's PE ratio is low, while the return on equity is healthy.

Mehai Technology Share Price:

After the market hours on BSE, Mehai Technology shares ended at Rs 13.75 apiece, which is its 2% upper circuit. Its market cap was around Rs 408.51 crore. Adjusted to the stock split, Mehai's new 52-week high and low are Rs 34.01 apiece and Rs 1.80 apiece, respectively.

An upper circuit generally means that a stock had many buyers but no sellers. As of March 14, Mehai's price-to-equity ratio was 5.37x, while its return on equity was around 10.23%.

Mehai Technology Stock Split:

Mihai fixed Friday, March 14 as the record date for determining eligible shareholders for a stock split. Since March 14 is a market holiday due to the Holi festival celebration, the stock price turned ex-date on March 13.

The company's shares sub-divided for the first time. Its ratio is of 1:10, meaning that 1 (One) Equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up, was subdivided into 10 (Ten) Equity shares having face value of Re. 1/- (Rupee One only) each, fully paidup.

BUY/SELL Mehai Technology Shares:

As per Markets Mojo report, despite a challenging three-month period, where Mehai Technology's stock fell by 40.02% compared to the Sensex's 9.57% drop, its one-year performance stands out with an impressive increase of 508.95%, significantly higher than the Sensex's modest 2.07% gain. Year-to-date, the stock has faced a decline of 51.72%, while the Sensex has decreased by 4.95%.

It added, the Electric Equipment sector overall has gained by 2.01%, which may contribute to the positive sentiment surrounding Mehai Technology. However, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a mixed outlook in the context of broader market trends.

Mehai Technology Stock Fundamentals:

As per Trendlyne, following are the key fundamentals of Mehai Technology stock:

- Price to Earning Ratio is 46.1, lower than its sector PE ratio of 52.22.

- Stock Price rose 477.73% and underperformed its sector by 19,014.49% in the past year.

- Debt to Equity Ratio of 0.21 is less than 1 and healthy. This implies that its assets are financed mainly through equity.

- Mutual Fund Holding remained the same in the last quarter at 0%.

- Interest Coverage Ratio is 2.46, higher than 1.5. This means that it is able to meet its interest payments comfortably with its earnings (EBIT).

- Promoter Pledges are zero.

About Mehai Technology:

The Company was incorporated on 13th December, 2013 as a private limited Company under the Companies Act, 1956. Consequent upon conversion into public limited dated 29th June,2017, the name of our Company was changed to " Mehai Technology Limited".

Currently, the company is working on developing a comprehensive electronics retail chain that will offer a wide range of products, including televisions, smartphones, laptops, home appliances, and more. Its stores will be located in convenient locations across Eastern India and will be staffed by knowledgeable, friendly professionals who will provide exceptional customer service.