1:2 Stock Split Approved, Feb 2024: Electric Sector Stock Rallies 110% In 1-Yr

Small cap company operating in the electrical equipment sector, Bharat Bijlee shares today witnessed 0.86% decline. The Board of Directors of the company on February 14, 2024 approved sub-division/stock split in the ratio of 1:2. Last trading price of Bharat Bijlee shares on BSE is Rs 5747.00 apiece. Bharat Bijlee stock witnessed gain of 110% in last 1-year and 59% in last 3-months only.

What Is Stock Split? When a company announces stock split, it leads to increased number of shares of that company with the market cap remaining same. The current shares split with the underlying value remaining similar. When the number of shares rise, the price per share declines. Companies go for stock split to make the share more affordable for investors who may find it difficult to buy the shares of that company due to high prices.

Bharat Bijlee Approves Stock Split: As per the BSE filing of Bharat Bijlee dated Feb 14, "Sub-division / Split of existing 1 (One) Equity Share of face value of Rs 10/- (Rupees Ten only) each fully paid up, into 2 (Two) Equity Shares of face value of Rs 5/- (Rupees Five only) each fully paid up, subject to such regulatory / statutory approvals as may be required and the approval of Members of the Company, through Postal Ballot."

Bharat Bijlee Stock Split History: Bharat Bijlee split the face value 1 time since September 9, 2005. Bharat Bijlee Ltd. had last split the face value of its shares from ₹100 to ₹10 in 2005.The share has been quoting on an ex-split basis from Sept. 9, 2005, according to Trendlyne.

Bharat Bijlee Shares Performance & Return: The 52-week high price of Bharat Bijlee shares on BSE is Rs 6080.00 apiece and 52-week low price is Rs 2395.40 apiece, respectively. The company has a market capitalisation of Rs 3244.00 crore. Bharat Bijlee shares zoomed 16% year-to-date, rallied 109% in last 1-year, and offered return of 216% in last 2-years. In last 3-years, Bharat Bijlee stock surged 414%.

Bharat Bijlee Quarterly Earnings: The company for the quarter ended December 31, 2023 declared its net profit at Rs 29.69 crore, up 28.58% as compared to Rs 23.09 crore in December 2022. The company's net sales announced at Rs 423.74 crore for December 2023 quarter, up 9.2% as against Rs 388.03 crore declared in the corresponding quarter of last year. Its EBITDA stood at Rs 48.57 crore for the quarter under review, up 22.31% from Rs 39.71 crore in the same quarter of preceding fiscal. The company's EPS soared to RS 52.54 in December 2023 from Rs 40.85 in December 2022.

Bharat Bijlee About: It is a pioneer in electrical engineering in India. Established in 1946, the company has two primary business segments: Power Systems that comprise Transformers and Projects divisions, and Industrial Systems segment comprising Electric Motors, Drives & Industrial Automation and Elevator Systems divisions. It caters to a spectrum of industries and the builders of the nation's infrastructure: power, refineries, steel, cement, railways, machinery, construction and textiles. It also undertakes turnkey projects (switchyards) and is well positioned to provide complete 'concept to commissioning' services, according to its official website.

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.