This Ashish Kacholia-backed multibagger stock to split one equity share into 10
Aditya Vision, in which Ashish Kacholia has a 1.87% stake, on Wednesday informed exchanges about the stock split of its equity shares into 10 fully paid shares.
The company will announce the record date for the subdivision of equity shares after the receipt of approval of the members.
The decision was taken at a board meeting on Wednesday and Aditya Vision informed about the development after market hours.
The share on Wednesday ended at Rs 4,572.95, up by Rs 93.75 or 2.09%.
On Monday, Aditya Vision shares hit a 52 week high of Rs 4,800. This stock has delivered multibagger returns of 186% over the last 12 months. In 2024, so far its returns stand at 33%.
The counter is currently trading above its 50-day and 200-days simple moving averages (SMAs) of Rs 3,686 and Rs 3,314, respectively according to data available on Trendlyne.
The rally has taken the stock into overbought zone with RSI hovering near 73. A number above 70 is considered to be overbought while below 30 is seen as oversold. Another momentum indicator MFI is still in the medium range of 61.
Notwithstanding a strong rally, the stock has managed to trade with stability. Its 1-year beta, which is a measure of its volatility, stands at 0.4.
The company reported an year-on-year jump in its March quarter net profit at Rs 7.9 crore versus Rs 6.8 crore reported in the year ago period. It was down on a quarter-on-quarter basis versus 22.2 crore, the Trendlyne data said. The March quarter revenue stood at Rs 377.5 crore up from Rs 308 crore reported in the
