Smallcap multibagger stock, with over 380% returns in 3 years, announces record date for stock split
Surya Roshni has fixed 6th October 2023 as the record date for the stock split. The stock split will be in the ratio of 2:1.
«The Company has fixed Friday, 6th October, 2023 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for subdivision of one equity share of face value of Rs 10/- each fully paid up into two equity shares of face value of Rs 5/- each fully paid-up,» Surya Roshni said in a BSE filing.
In Monday's trade, the stock ended 1.9% lower at Rs 977.2.
On a year-to-date, the stock has surged nearly 90%. It has also delivered multibagger returns to its investors as the stock has risen over 100% in the last one year.
It has also rallied over 380% in the past three years.
From its 52-week low of 401, the stock has surged 144% to Rs 977.2 on BSE.
In Q1FY24, the company reported a two-fold increase in consolidated net profit to Rs 59.13 crore driven by reduced finance costs. It had posted a consolidated net profit of Rs 22.24 crore in the year-ago period.
Its revenue from operations was up 2% to Rs 1,875.27 crore in the first quarter of the current fiscal as against Rs 1,839.89 crore last year.
As per Trendlyne data, the average target price of the stock is Rs 1,055, which shows an upside potential of 8% from the current market prices. The consensus recommendation from 3 analysts for the stock is a 'Strong Buy'.
With a market cap of Rs 5,317 crore, Surya Roshni is a small-cap stock.
Surya Roshni is an Indian multinational company headquartered in Delhi that produces fans, steel, lighting, LED, kitchen appliances and PVC pipes. Surya exports its products to over 44 countries and is one of the top manufacturers of LED lights in India.
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