1:2 Stock Split Update: Penny Stock Moved Record Date From April 2 To 21st; More Time For Bullish Momentum?

With a market valuation of Rs 45.20Cr, Ranjeet Mechatronics' shares closed Wednesday at a 5% upper circuit limit of Rs 45.20 per share on the BSE. This occurred after the Board revised the record date for the 1:2 stock split from April 2 to April 21. Ranjeet Mechatronics is a highly favored mechanical, electrical, plumbing, and firefighting provider in India. The company is India's fastest-growing system integrator and turnkey project developer for automation, electronic security, and fire safety and detection systems.

Ranjeet Mechatronics Stock Split Record Date

For the purpose of sub-division/split of the face value of equity shares of the company having face value of Rs. 10/- be sub-divided/split into 2 equity share having face value of Rs. 5/- each fully paid-up equity share, the Board of Directors has fixed Monday, April 21st as the new record date compared to April 2 earlier as per a regulatory filing on Wednesday.

"This Clarification is with respect to documents submitted by the Company regarding Sub-Division/Split of the face value of Equity Shares of the Company. The company decided to split the Face value of the shares in the Ratio of 10:5 but inadvertently mentioned Face Value of Equity Shares of the Company, such that Equity Shares having Face value of Rs. 10/- (Rupees Ten Only) be sub-divided/split into 1 (One) Equity Share having Face value of Rs. 5/- (Rupees Five Only) each fully paid-up equity shares instead of Face Value of Equity Shares of the Company, such that Equity Shares having Face value of Rs. 10/- (Rupees Ten Only) be sub-divided/split into 2 (Two) Equity Shares having Face value of Rs. 5/- (Rupees Five Only) each fully paid-up equity share," said Ranjeet Mechatronics in a stock exchange filing on Tuesday.

Ranjeet Mechatronics Bonus Shares

At its meeting on Tuesday, February 18, 2025, the Board of Directors authorized and recommended the issuance of bonus equity shares in a 1:1 ratio, meaning that for every fully paid-up equity share of Rs. 10 held by shareholders as of the record date, which the company has set as April 2, there will be one (1) bonus equity share of Rs. 10 for every one (1) fully paid-up equity share of Rs. 10 held by shareholders. This recommendation was made subject to the consent of the company's members.

Ranjeet Mechatronics Share Price Target

"Ranjeet Mechatronics stock price is slightly bullish on the Daily charts with strong support at 41. A Daily close above resistance of 45.26 could lead to a target of 51.5 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.