Upcoming 1:5 Stock Split—Record Date Pending, Time To Buy Before The Rally?

In 1985, Shantai Industries Ltd. was established as a textile and apparel manufacturing firm. Wheel & Axle Textiles Limited was its former name. Shantai Industries' market value was Rs 7.50 Cr at its most recent trading price of Rs 49.97 per share.

Shantai Industries Stock Split

The Board of Directors "Approved Sub-Division/Split of Equity Shares of the Company pursuant from Face Value of Rs. 10/- (Rupees Ten) each to Rs. 2/- (Rupees Two) each, subject to the approval of shareholders to be obtained through Extra Ordinary General Meeting such other approvals as may be required. The Record Date for the purpose of above Sub-division/Stock Split of Equity Shares shall be decided after obtaining approval of Members of the Company through Extra Ordinary General Meeting and will be intimated in due course. The Extra Ordinary General Meeting notice along with the necessary instructions shall be sent through e-mail to those Members who hold shares as on the cut-off date i.e. 28th February, 2025 and whose e-mail addresses are registered with the Company's Registrar and Share Transfer Agent/Depository Participants," said Shantai Industries in a stock exchange filing.

The purpose of behind the stock split is to encourage wider participation of small investors and to enhance the liquidity of the equity shares of the company in the stock market, as per Shantai Industries.

Shantai Industries Financials

Shantai Industries recorded a net profit of Rs 0.10 crore for the quarter that ended in December 2024, compared to a net loss of Rs 0.06 crore for the quarter that ended in December 2023. The quarter that concluded in December 2024 had sales of Rs 8.22 crore. Sales during the year-ago quarter, which concluded in December 2023, were not produced by the company.

Shantai Industries Share Price Target

"Shantai Industries stock price is bearish on the Daily charts with strong resistance at 52.7. A Daily close below support of 49.3 could lead to a target of 42.6 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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