look news india
A very useful and big news is coming for the stock market investors. If you also have a share of penny stocks in your portfolio, then this update can prove to be very beneficial for you. Narmada Agrobase Ltd, a well-known company related to agriculture sector, is going to do a massive stock split of its shares. The board of the company has taken a big decision in this regard and has submitted its official information to the stock exchange, after which the eyes of the investors are fixed on this share.
Record date is 31st July, face value will reduce to this
According to the exchange filing given by the company, the shares of Narmada Agrobase Limited will be divided into a total of 5 parts. Under this stock split, a share with a face value of Rs 10 will be divided into 5 pieces, after which the new face value of the share will reduce to Rs 2 per share. The company has also officially announced the record date for this. For this historic split of shares and eligibility, 31st July has been declared as the record date, that is, the investors who have shares of the company in their demat accounts till this date will get the full benefit of this split.
Investors’ confidence increased due to strong performance and excellent returns
The performance of shares of Narmada Agrobase Limited has been quite strong in the stock market in the recent past. Last Friday, this share had closed at Rs 35 on BSE with a slight decline of 0.51 percent. However, if we look at the data of the last 6 months, investors have got an excellent return of about 22 percent in the company’s shares. At the same time, within the last one year, the price of this stock has increased by 63 percent, whereas in the same period, a decline of 7.45 percent was recorded in the Sensex index. The 52-week high level of this stock has been Rs 45.18 and the lowest level has been Rs 18.75, while its total market cap is around Rs 132 crore.
Tremendous returns and stable shareholding pattern in the long term
If we talk about long term, this penny stock has not disappointed its investors. The share prices of Narmada Agrobase Limited have seen a tremendous rise of 118 percent in the last 2 years and 137 percent in 3 years. Talking about the shareholding pattern of the company, according to June quarter data, promoters hold 50.30 percent stake in the company, while public or retail investors hold 49.70 percent. The special thing is that there has been no change in the shareholding of the company for the last three consecutive quarters, which reflects its stable and strong fundamentals.