5:1 Stock Split of Chemical Stock: October 25 Record Date For Sub-Division of Shares; Target Price?

POCL Enterprises Limited (POEL) is a prominent producer of metallic oxides in India, including zinc and lead oxides, PVC stabilisers, and zinc and lead metal. With the scrip code 539195, POCL Enterprises Limited is listed on the Bombay Stock Exchange (BSE). With production facilities positioned in Puducherry, Kakkalur - Thiruvallur, and Maraimalai Nagar, Tamil Nadu, POEL is acknowledged by the Director General of Foreign Trade (DGFT) as a Two Star Export House. It is also a certified company with ISO 9001:2015, 14001:2015, and 45001:2018.

POCL Enterprises Stock Split

"The exchange may please take on record that the shareholders of the Company vide ordinary resolution passed at the 36th Annual General Meeting of POCL Enterprises Limited convened on September 23, 2024, had approved the sub-division of the existing one (1) Equity Share of face value of Rs. 10/- each, fully paid up, into five (5) Equity Shares of face value of Rs. 2/- each, fully paid up, ranking paripassu in all respects. Further, pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, the record date for determining entitlement of Equity shareholder for the subdivision of equity shares has been fixed as October 25, 2024," said POCL Enterprises in a stock exchange filing.

The rationale behind the 5:1 stock split is to enhance the liquidity of the company's equity shares and to encourage the participation of small investors by making the company's share more affordable, as per POCL Enterprises.

"Pursuant to the sub-division of the equity shares of the company, the authorised, issued, subscribed and paid-up equity share capital of One (1) Equity Share having face value of Rs.10/- (Rupees Ten only) each shall stand sub-divided into Five (5) equity shares having face value of Rs. 2/- (Rupees Two only) each from the record date being October 25, 2024, as determined by the Board of Directors of the Company for the purpose of sub-division of shares," said POCL Enterprises in a statement.

"In the opinion of the Board, the proposed sub-division of equity shares is conducive to the best interests of the Company and its shareholders. Hence, the Board hereby recommends the sub-division of the existing equity shares of the Company subject to the shareholders' approval. The members are further informed that there will not be any change in the amount of authorized, subscribed and paid-up share capital of the Company on account of sub-division of equity shares. Additionally, such subdivision shall not be construed as reduction in share capital of the Company," POCL Enterprises informed stock exchanges.

Important Note By POCL Enterprises For Members Regarding Stock Split

"Upon sub-division of equity shares as aforesaid, the existing share certificate(s) in relation to the existing equity shares having face value of Rs.10/- (Rupees Ten only) each held in physical form shall be deemed to have been automatically cancelled and be of no effect on and from the 'Record Date' and the Company may without requiring the surrender of existing share certificate(s), directly issue and dispatch the new share certificate(s) of the Company, in lieu of such existing issued share certificate(s) subject to the provisions of the Companies (Share Capital and Debentures) Rules, 2014 and shall comply with the prevailing laws/guidelines in this regard and in the case of members who hold the equity shares in dematerialized form/ opt to receive the sub-divided equity shares in dematerialized form, the sub-divided Equity Shares of face value of Rs. 2/- (Rupees Two only) each shall be credited proportionately into the respective beneficiary demat account(s) of the members with their respective depository participant(s) and the Company shall undertake such Corporate Action(s) as may be necessary in relation to the existing equity shares of the Company," said POCL Enterprises in a stock exchange filing.

POCL Enterprises Share Price Target

"POCL Enterprises stock price is bullish on the Daily charts with strong support at 751. A Daily close above resistance of 842 could lead to a target of 898 in the near term," commented A R Ramachandran, Independent Research Analyst.

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