Penny Stock Under Rs 20: 1:10 Stock Split Ratio, January 30 Record Date; Big Potential?

Founded in 1993, Minolta Finance Ltd. is a non-banking financial institution registered with the Reserve Bank of India. Since 1996, this Non-Banking Finance Company (NBFC) has been listed on the Bombay Stock Exchange. With a market value of Rs 19.05 Cr, the stock was last traded on January 13 at a price of Rs 19.05 per share. Since the Board of Directors has set a record date for a 1:10 stock split, penny stocks under Rs 20 are probably going to be the focus of the next sessions.

Minolta Finance Stock Split Record Date

"In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ["SEBI (LODR), Regulations"] and rules made there under, we wish to intimate you that Minolta Finance Limited ('the Company') has fixed Thursday, January 30, 2025 as 'Record Date' for the purpose of determining the eligibility of shareholders of the Company for Sub-division (stock split) of every 1 (One) equity share of face value of Rs. 10.00/- each into 10 (Ten) equity shares of Face Value of Re. 1/- each as approved by the shareholders through Postal Ballot on January 05, 2025," said Minolta Finance in a stock exchange filing.

Minolta Finance Financials

In the September 2024 quarter, the company's net sales were Rs 0.23 crore, rising 34.35% from Rs 0.17 crore in the September 2023 quarter. In Q2FY25, its net profit was Rs. 0.01 crore, growing 2.33% from Q2FY24's Rs. 0.01 crore. EBITDA was flat at Rs. 0.01 crore in the September 2024 quarter. The company is yet to declare the financial results for the December 2024 quarter.

Minolta Finance Share Price Target

"Minolta Finance stock price is bullish & also very overbought on the Daily charts with next resistance at 20. Investors should be booking profits as a Daily close below support of 18 could lead to a target of 13.8 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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