Stock Set For Sub-Division In 2025: 19th February For Stock Split; Affordable Pick?

With a solid reputation for project quality, Conart Engineers is one of India's most renowned and experienced building and civil construction companies. Following the company's announcement of the record date for the stock split, Conart Engineers' shares closed Tuesday 2.65% down at Rs 281 per share with a market capitalisation of Rs 88.23 Cr.

Conart Engineers Stock Split

"The Equity Shares of the Company are listed on BSE Limited. In order to improve the liquidity of the Company's equity shares in the stock market with higher floating stock in absolute numbers, the Board of Directors of the Company in their meeting held on Tuesday, the 13th August, 2024, considered desirable to sub-divide the nominal value of the equity share capital of the Company from Rs.10/- per share to Rs.5/- per share as proposed in the resolution subject to the approval of the shareholders and all authorities concerned," said Conart Engineers in a stock exchange filing.

"Upon approval of shareholders for sub-division of shares, in case the shares are held in physical, the old share certificates of face value of Rs.10/- each will be cancelled on the Record Date and the new share certificates will be sent to the shareholders. In case the shares are in dematerialized form, the sub-divided shares will directly credited to the shareholders demat account on the record date in lieu of their existing shares," the company further informed to stock exchanges.

Conart Engineers Stock Split Record Date

"The Board of Directors of M/s. Conart Engineers Limited (The Company) has fixed a record date of 19.02.2025 for the purpose of sub-division / stock split of Rs.10/- per Equity Shares of the Company into the Equity Shares of Rs.5/- each. We hereby undertake that the Company will set up Auto Corporate Action with both the depositories - NSDL and CDSL for execution before beginning of the day (BOD) on the first date before BOD on the trading day succeeding the record date (in case of Record Date). Further, the Company undertakes to resolve any compliant on account of failure on the part of the Company to complete all formalities for execution of Auto Corporate Action," said Conart Engineers in a regulatory filing on Tuesday.

Conart Engineers Stock Split Update For Shareholders

"Upon sub-division of Equity Shares of the Company as aforesaid, the existing share certificates in relation to the Equity Share Capital held in physical form shall be deemed to be automatically cancelled and be of no effect on and form the Record Date and the Company may without requiring the surrender of the existing share certificates, issue new share certificate in respect of the equity share held by the Member of the Company consequent upon sub-division of the equity shares as aforesaid and in case of the shares held in dematerialized form, the sub-divided equity shares shall be credited to the respective demat account of the beneficiary in lieu of the existing shares held by them," Conart Engineers highlighted in an exchange filing today.

Conart Engineers Share Price Target

"Conart Engineers stock price is bullish on the Daily charts with strong support at 275. A Daily close above resistance of 294 could lead to a target of 338 in the near term," said A R Ramachandran, Independent Research Analyst.

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