Microcap Stock Recommended 1:10 Stock Split, Scrip Up 28.94% In 1 Month

Indian Link Chain Manufacturers Ltd. (ILCM) on Monday, Sept 04, 2023, recommended 1:10 stock split of the company.

1:10 Stock split i.e. one equity share having face value of Rs 100/- each, fully paid up into 10 equity shares having face value of Rs 10/- each fully paid-up. The stock split is subject to the approval of the shareholders of the company.

"Alteration in the capital of the Company by sub-division/split of existing equity share of the Company from one equity share having face value of Rs. 100/- (Rupees Hundred only) each, fully paid-up into Ten (10) equity shares having face value of Rs. 10/- (Rupees Ten only) each fully paid-up, subject to the approval of shareholders of the Company. The Record Date will be intimated in due course post receipt of shareholder's approval," the Board said in a stock exchange filing.

Shares of ILCM last traded at Rs 1,531.15 per share, up 0.89% from its previous close. Currently, trading is restricted on account of GSM, according to BSE.

The share surged 0.89% in the past 1 week. In the past 1 month, it jumped 28.94%. In the past 1 year, it gained 73.83% positive return. In 2 and 3 years, it gained 236.52% and 290.10% robust returns. In 5 years, it gained 156.65% positive return.

The stock hit 52-week high on Sept 04, 2023, at Rs 1,593.45 per share and 52-week low on Nov 30, 2022, at Rs 669.75 per share.

According to the ILCM website, The company started manufacturing of steel chains in 1958 and diversified chemicals in 1980. Due to labour problems and uneconomical working both the operations were closed. Since then it is engaged in trading in a small way pending resolution of all contingent liabilities.

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