5:1 Stock Split of Penny Stock: 25th October Record Date; Buy Under Rs 10?

The industries that Mayukh Dealtrade Ltd., formerly known as Mayukh Commercial Ltd., operates in include media, steel, and infrastructure. Mumbai serves as the company's registered office. Mayukh Dealtrade was founded in 1980. Products like camphor sticks, vaporisers, fragrance oil burners, night lights, and aroma burners are produced and traded by Mayukh Dealtrade. Mayukh Dealtrade trades a large selection of sarees and invests in a range of financial solutions. With a market valuation of Rs 19.80 Cr, Mayukh Dealtrade's shares wrapped up Friday's trading session 3.62% down at Rs 8.25 a share.

Mayukh Dealtrade Stock Split Record Date

"We wish to intimate you that Mayukh Dealtrade Limited ('the Company') has fixed Friday, 25th October, 2024 as 'Record Date' for the purpose of determining the eligibility of shareholders of the Company for Subdivision/Split of each fully paid-up equity share having face value of Rs.5/- (Rupees Five Only) each be Sub-divided into 5 (Five) fully equity shares having Face value of Re.1/- (Rupees One Only), as approved by the shareholders in the Annual General Meeting dated 28th September, 2024," said Mayukh Dealtrade in a stock exchange filing.

Allotment of Sub-Division of Shares of Mayukh Dealtrade

"The Board of Directors of the company has proposed a stock split to increase the liquidity of the company's shares and make them more affordable for smaller investors. In their meeting held on 17th August 2024, they recommended subdividing each existing equity share with a face value of Rs. 5 into five equity shares with a face value of Re. 1 each. This proposal is subject to the approval of the company's shareholders. The intention behind this stock split is to broaden the base of small investors by making shares more accessible. Upon sub-division of Equity Shares as aforesaid, the existing share certificates of the Equity Shares of the face value of Rs. 5/- (Rupees Five Only) each in the physical form shall be deemed to have been automatically cancelled and be of no effect from the Record date, and no letter of allotment shall be issued to the allottees the new Equity Shares of Re. 1/- (Rupee One only) each, on sub-division and the Company without requiring the surrender of the old/existing share certificate(s) directly issue and allot in lieu of such old/existing share certificates within the period prescribed or that may be prescribed in this behalf, from time to time and in the case of shares held in dematerialized form, the number of sub-divided Equity Shares be credited to the respective beneficiary accounts of the shareholders with the Depository Participants, in lieu of the existing credits representing the Equity Shares before sub-division, the new equity shares pursuant to sub-division will be issued and allotted in dematerialized form only, as per SEBI," said Mayukh Dealtrade in a regulatory filing.

Mayukh Dealtrade Share Price Target

"Mayukh Dealtrade is bearish on the Daily charts with strong resistance at 9.12. A Daily close below support of 8.1 could lead to a target of 6.8 in the near term," recommended A R Ramachandran, Independent Research Analyst.

Disclaimer

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