1:10 Stock Split: Textile Stock Slips Below Rs 10 Post Split, Shares Gain 136% In 2024

Small cap stock engaged in textile sector, Nandan Denim Limited shares gained 3.24% in trade today on BSE as the stock turned ex-split today in the ratio of 1:10. The stock price was Rs 62.83 per share on September 16, 2024 and today Nandan Denim shares price slipped to Rs 6.70 per share post 1:10 stock split. The company fixed September 19, 2024 as the record date for stock split. Nandan Denim shares offered attractive returns over the years and in 2024 only the stock offered 136% return and 485% return in last 5-years. The company has a market capitalisation of Rs 965.79 crore. Nandan Denim shares today hit fresh 52-week high and upper circuit as well. Check details below:

Nandan Denim Trades Ex-Split: As per company's BSE filing dated September 07, 2024, "Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has fixed Thursday, September 19, 2024 as the "Record date" for determining eligibility of Shareholdersfor the purpose of Sub-division/split of existing Equity Shares of the Company from Face Value of Rs. 10/- each fully paid-up to Face Value of Re. 1/- each fully paid-up, ranking pari-passu in all respects, which was approved by the Equity Shareholders at 30th Annual General Meeting of the Company held on September 06, 2024."

Nandan Denim Shares Performance: The 52-week high price of Nandan Denim shares on BSE is Rs 6.81 per share (as on 19/09/2024) and 52-week low price is Rs 2.05 per share (as on 26/10/2024), respectively. Nandan Denim shares gained 29% in last 2-weeks only, zoomed 102% in last 6-months, and offered stunning returns of 181% in last 1-year. In last 3-years, Nandan Denim shares gained 175%.

Nandan Denim Financials: The textile company declared its net sales at Rs 721.62 crore in June 2024, up 30.17% as against Rs 554.37 crore declared in the corresponding quarter of last year. The company declared its quarterly net profit at Rs 7.49 crore for June 2024, up 339.08% as against Rs. 1.71 crore declared in June 2023. EBITDA of the company stood at Rs 34.49 crore for June 2024, up 45.34% as compared to Rs 23.73 crore for the similar quarter of last year. Nandan Denim EPS jumped to Rs. 0.52 in June 2024 from Rs. 0.12 in June 2023.

Disclaimer:

The stock highlights the stock split and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.