Upcoming 1:10 Stock Split: Record Date - September 13; Where Are Daily Charts Taking The Target Price?

Onesource Ideas Venture Limited was established in 1994 and offers consulting services. Finance & investments are Onesource Ideas Venture Ltd's main business segment. Founded in 1994, Onesource Ideas Venture Ltd is based in Chennai and has its registered office there. Following the setting up of a record date for a 1:10 stock split by the company's Board of Directors, Onesource Ideas Venture's shares wrapped up 0.02% higher on the BSE on Monday at Rs 93.02 per share.

Onesource Ideas Venture Stock Split

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Company has fixed Friday, September 13, 2024 as the Record Date for determining entitlement of Equity Shareholders for the purpose of sub division/ split of existing Equity Shares of the Company, such that 1(One) Equity Share having face value of Rs. 10/- (Rupees Ten Only) each, fully paid-up, be subdivided / split into 10 (Ten) Equity Shares having face value of Re. 1/- (Rupee One Only) each, fully paid- up, ranking pari-passu in all respects which was approved by the Equity Shareholders through Postal Ballot on August 24, 2024. The voting results of the Postal ballot has been intimated to the Stock Exchanges on August 26, 2024," said the company in a stock exchange filing.

"With respect to SubDivision of Equity Share fully paid up with effect from 13th September, 2024(Record Date). Please be informed that the Sub-Division of Equity Shares will take effect under the new ISIN i.e. INE125F01032," Onesource Ideas Venture informed stock exchanges.

The rationale behind the split is to improve the liquidity of the company's shares in the stock market to make it more affordable for individual retail investors and also to widen the shareholder base.

Onesource Ideas Venture Financial Figures

Compared to Rs 4.13 lakh in the quarter ending in June 2023, Onesource Ideas Venture reported revenue from operations of Rs 432.93 lakh for the quarter ending in June 2024. In the quarter under review, its net income was Rs 439.36 lakh, compared to Rs 9.98 lakh in the same period the previous year. The company reported that its net expenses for the quarter ended in the previous fiscal year were Rs 424.32 lakh, compared to Rs 4.89 lakh in Q1FY25. In Q1FY25, the company's quarterly net profit was Rs 11.13 lakh, up from Rs 3.76 lakh in Q1FY24.

Onesource Ideas Venture Share Price Target

"One source Ideas stock price is slightly bullish on the Daily charts with strong support at 86. A Daily close above resistance of 106.5 could lead to a target of 121 in the near term," commented A R Ramachandran, Independent Research Analyst.