1:10 Stock Split Declared: Scrip Trading At 5% Lower Circuit Limit; Worth Buying?

Initially established as Abhishek India Limited on November 6, 1986, Oasis Securities LIMITED is a public limited company. On February 1st, 1995, it changed its name to Oasis Securities Limited and entered the securities and finance industry. The company is currently an NBFC and operates as an NBFI. Following the company's announcement of a 1:10 stock split, Oasis Securities' shares were trading on the BSE on Monday at a 5% lower circuit limit of Rs 318.55 per share, with a market capitalisation of Rs 56.61Cr.

Oasis Securities Stock Split

The Board of Directors "Approval for stock split (sub-division of equity shares) of Company's 1 (One) equity share of face value of Rs.10/- each into 10 (Ten) equity shares of face value of Re. 1/-each, subject to the approval of shareholders and other approvals as may be required. In this respect the record date shall be decided by the board and will be intimated to exchange," said Oasis Securities in a stock exchange filing on January 15, 2025.

The record date for the purpose of above said stock split will be decided in due course of time according to the company.

Oasis Securities News

The Board of Directors also considered the "Approval for raising of funds through issuance and allotment of equity shares having face value of ₹ 10.00/- (Rupees Ten Only) ('Equity Shares') for an aggregate amount not exceeding ₹ 49,00,00,000/- (Rupees Forty Nine Crores Only) on Right issue basis ('Rights Issue'), on such terms and conditions as may be decided by the Board of Directors of our Company to the eligible equity shareholders of the Company, as on the record date (to be notified subsequently)," said Oasis Securities in a regulatory filing.

Oasis Securities Financials

Oasis Securities' net profit dropped 60.61% to Rs 0.26 crore in the September 2024 quarter from Rs 0.66 crore in the September 2023 quarter. Compared to Q2FY25r, which ended in September 2023, when sales were Rs 0.95 crore, sales in the quarter ending in September 2024 fell 88.42% to Rs 0.11 crore.

Oasis Securities Share Price Target

"Oasis Securities stock price is slightly bullish on the Daily charts with strong support at 319. A Daily close above resistance of 354 could lead to a target of 392 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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