Healthcare Stock Announces Stock Split, Down 55% From 52-Week-High

Tejnaksh Healthcare is a small cap healthcare company that recorded a market cap of Rs 72.89 Cr during its last trading session. Being one of the nation's top revolutionary healthcare brands, it offers healthcare services at 2 dental care superspeciality clinics, 4 urology hospitals, and 13 urology clinics. The company has announced stock split action along with has fixed record date for determining the eligibilirty of the shareholders for the purpose of the same.

"In terms of Regulation 42 (2) of the SEBI Listing Regulations, the Company has fixed Wednesday, July 19, 2023 as the 'Record Date' for the purpose of determining the eligibility of Shareholders for the purpose of sub-division /split of every one fully paid-up Ordinary (equity) share having face value Rs. 10/- (Rupees Ten only) each in the share capital of the Company, into two (2) fully paid-up Ordinary (equity) shares having face value Rs. 5/- (Rupees Five only) each, as approved by the shareholders at the extra ordinary general meeting Conducted through Postal Ballot and E voting dated June 24, 2023," said Tejnaksh Healthcare in a stock exchange filing.

In comparison to the March 2022 quarter, when the firm recorded a standalone net income of Rs 1.81 Cr, the March 2023 quarter saw a net income of Rs 1.76 Cr. Compared to Rs 1.04 Cr in the same quarter of FY22, its net expenses were Rs 1.55 Cr during the March 2023 quarter. Tejnaksh Healthcare reported that in Q4FY23 it posted a net loss of Rs -0.07 Cr as opposed to a net profit of Rs 0.43 Cr in Q4FY22.

On Wednesday, the shares of Tejnaksh Healthcare closed on the BSE at Rs 71.76 apiece up by 4.77% from the previous close of Rs 68.49. The stock made a 52-week-high of Rs 163.00 on (29/06/2022) and a 52-week-low of Rs 58.99 on (27/03/2023), indicating that at the current market price, the stock is trading 55.97% below the 1-year high and 21.64% above the 1 year low.

The promoter stake of Tejnaksh Healthcare was 73.83% and public shareholding was 26.17% during March 2023 quarter.