1:10 Stock Split: Record Date In 3 Days On 12 July; Buy Mukul Agarwal Portfolio Stock?

Incorporated in 1952, WPIL Limited is a global provider of pumps and systems, with its headquarters located in India. Its operations span the whole spectrum of the pumping business. WPIL Limited has over 65 years of extensive expertise in the design, development, manufacturing, erecting, commissioning, and servicing of pumping systems and pumps. Through its group companies, the corporation operates manufacturing facilities in the United Kingdom, Italy, France, Switzerland, South Africa, Zambia, Australia, and Thailand. The renowned investor Mukul Agarwal's portfolio stock, in which he held 1,30,000 equity shares of WPIL or 1.33% stake in the company, is scheduled to trade ex-split for a 1:10 sub-division of equity shares on July 12th, three days from today.

WPIL Record Date For Stock Split

"We would like to inform you that the Board of Directors of the Company at its meeting held on date i.e July 02, 2024 has fixed Friday, the 12 day of July, 2024 as the RECORD DATE for the purpose of Sub-division/splitting of face value of an Equity share of the Company from Rs. 10/- per share to Rs. 1/- per share," said the company in a stock exchange filing.

"We hereby undertake that the company will set up Auto Corporate Action with both the Depositories - CDSL & NSDL for execution before beginning of the day (BOD) or before BOD on the trading day succeeding the record date (in case of Record Date). Further, the company undertakes to resolve any complaint on account of the failure on the part of company to complete all formalities for execution of Auto Corporate Action," WPIL informed stock exchanges.

Note For Investors By WPIL

"The sub-divided Equity Shares having face value Rs.1/ (Rupees one) each, shall rank pari passu in all respects and carry the same rights as to the existing fully paid-up Equity Shares of face value Rs. 10/- (Rupees Ten) each of the Company. pursuant to the Sub-division of equity shares of the Company, the Authorized, Issued, Subscribed and Paid-up Equity Share Capital of nominal value of 1 (one) Equity Share of Rs. 10/- (Rupees Ten Only) each, shall stands sub-divided into 10 (Ten) Equity Shares of nominal value of Re.1/- (one) each. Upon sub-division of the Equity Shares as aforesaid post re- structuring of the register of members and with effect from the Record Date: (a) for the Equity Shares held in physical form, the existing Share Certificate(s) in relation to the said Shares, shall be deemed to have been automatically cancelled and shall be of no effect and the Board, without requiring the Members to surrender their existing Share Certificate(s), shall issue new Share Certificate(s) of the Company; and (b) for the Equity Shares held in dematerialized form, the sub-divided Equity Shares shall be credited proportionately into the respective beneficiary demat accounts of the Members held with Depository Participants, in lieu of the existing credits present in their respective beneficiary demat accounts," the company said in a regulatory filing.

WPIL Share Price Target

"WPIL, a smallcap company operating in the compressors and pumps industry is currently trading at Rs.4724.90, garnering attention for its recent market momentum. The stock has been trading with an RSI reading of 69 on the daily, 67 on the weekly, and 44 on the monthly timeframe, suggesting a bullish trend in the shorter timeframe. WPIL has recorded a one-year return of 66.2%, displaying decent financial standing. Hence, investors looking to invest for the mid-term can consider the buying range of Rs.4600-4720 range for a target price of Rs.5100-6500. They can consider holding this stock for 3-10 months, but they must set a stop loss at Rs.4300 and follow it strictly," recommended V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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