1:2 Stock Split This Week: Record Date On Monday 23rd September; Buy Penny Stock Below Rs 2?

With its registered office located in Chennai, Tamil Nadu, Srestha Finvest Limited is a public limited company that was established in accordance with the Companies Act, 2013. The company offers loans, finance, and investments as a non-banking financial company (NBFC). Srestha Finvest's shares closed Friday on the BSE 0.58% higher at Rs 1.72 apiece, giving it a market value of Rs 141.04 Cr. The spike in share price is observed as the penny stock gets closer to the stock split record date.

Srestha Finvest Stock Split

"In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ["SEBI (LODR), Regulations"] and rules made there under, we wish to intimate you that Srestha Finvest Limited ('the Company') has fixed Monday, September 23, 2024 as 'Record Date' for the purpose of determining the eligibility of shareholders of the Company for Sub-division/Split of each fully paid-up equity share having face value of Rs.2/- (Rupees Two Only) each be Sub-divided into 2 (Two) fully paid equity shares having Face value of Rs.1/- (Rupees One Only), as approved by the shareholders through Postal Ballot on September 05, 2024," said the company in a stock exchange filing.

Srestha Finvest Latest News

Srestha Finvest has declared its intention to employ Qualified Institutional Placement (QIP) to issue equity shares in order to raise up to Rs 200 crore. An announcement has been made about the raising of funds through the Qualified Institutional Placement (QIP) of a certain number of equity shares of the firm, each with a face value of Re.1, for a total sum not to exceed Rs. 200 Crores.

Srestha Finvest Financials

Impressive financial achievements were declared by Srestha Finvest for the first quarter of FY2024-2025. Operating revenue for the firm climbed significantly from Rs 2.27 crore in Q1FY24 to Rs 39.5 crore in the quarter that ended on June 30, 2024. This indicates a sales growth of 1,632.46%. Furthermore, the prior quarter's sales brought in Rs 5.63 crore for the organisation. In Q1 FY2024-25, net profit increased significantly as well, coming in at Rs 31.01 crore as opposed to Rs 0.44 crore in the prior quarter that ended in June 2023. In contrast, the net profit of Srestha Finvest during the fourth quarter of FY2024 was Rs 5.06 crore.

Srestha Finvest Share Price Target

"Srestha Finvest stock price is bullish on the Daily charts with strong support at 1.56. A Daily close above resistance of 1.82 could lead to a target of 2.38 in the near term," said A R Ramachandran, Independent Research Analyst.