Stock split 2024: Srestha Finvest shares are one of the multibagger penny stocks that the Indian stock market has delivered in one year. In one year, the small-cap penny stock under ₹5 has risen from around ₹1.10 to ₹2.41 apiece on the BSE, logging nearly 120 percent. However, there is some stock market news for Srestha Finvest shareholders. The company's board of directors has approved a stock split in a 1:2 ratio. The company board approved the stock subdivision in the meeting held on Friday this week. The record date for finalising the eligible shareholders for the stock split will be declared later. This is the second time the penny stock under ₹5 has declared a stock split. On 13th October 2016, the multibagger penny stock traded ex-split in a 1:5 ratio.
Srestha Finvest informed the Indian stock market exchange about the decision, saying, "is to inform you that the meeting of Board of Directors of our Company is scheduled to be held on Wednesday, July 31, 2024 at 2.00 P.M. at the registered office of the Company to transact the following major businesses: 1] Sub-division of the equity shares of the Company of face Value of Rs.2/- each into equity shares of face value of Rs. 1/- each pursuant to the provisions of Section 61 (1) (d) of Companies Act, 2013 and other applicable provisions, if any; and 2] Any other Business with the permission of the Chair."
In one month, Srestha Finvest share price has risen from around ₹1.88 to ₹2.41 apiece on the BSE, registering around a 25 percent rise. In the last six months, the multibagger penny stock below ₹5 has risen from 1.27 to ₹2.41 per share mark, logging a nearly 90 percent rise in this time frame.
In YTD time, the penny stock under ₹3 has given almost 85 percent returns to its shareholders. In one year, this penny stock has risen from 1.10 to ₹2.41 apiece, delivering around 120 percent returns to its positional shareholders.
This multibagger penny stock is available for trade on BSE only, and it ended on Friday with a market cap of ₹197 crore. The penny stock under ₹5 finished Friday with a trade volume of 3,49,67,793. Its 52-week high is ₹2.56 per share, whereas its 52-week low is ₹0.98 apiece.
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