1:10 stock split: Small-cap stock jumps after announcement of record date

livemint.com:

Stock split 2023: The board of directors of BCL Industries Limited declared record date for stock split after its meeting on Wednesday. The company board has fixed stock split record date on 27th October 2023. The small-cap company has already declared stock subdivision of one share of the company with a face alue of ₹10 each to ten company shares with a face value of Re 1 per share.

BCL Industries shares witnessed strong buying interest during morning deals. The small-cap stock opened upside and went on to hit intraday high of ₹523 apiece on NSE within few minutes of stock market's opening bell today. BCL Industries informed Indian stock market exchanges on Wednesday about stock split record date citing, "Pursuant to Regulation 42 of Securities and Exchange Board of India (Listing Obligation and Disclosures Requirements) Regulations, 2015 as amended from time to time, it is hereby informed that, today the Board of Directors of the Company has passed the necessary Resolution by circulation to fix the “Record Date" on Friday, October 27, 2023 for the purpose of Sub-Division of every 1 (One) Equity Share having nominal/face value of Rs.

10/- (Rupee Ten Only) each be sub-divided into 10 (Ten) Equity Shares having nominal/face value of Rs. 1/- (Rupee One Only) each fully paid-up." The small-cap stock is one of the money-making stocks in 2023. In YTD time, this small-cap stock has risen from around ₹324 apiece to ₹517 per share levels, logging near 60 per cent rise in this time.