Stock market today: Rushil Decor share price witnessed a strong upside on Monday. The Small-cap stock opened with an upside gap at ₹355.25 apiece on NSE and touched an intraday high of ₹371 within a few hours of the Opening Bell, logging around 7 percent intraday rise against the Friday's close of ₹373.90. On Saturday last week, the company's board of directors declared a record date for a stock split. This stock split, in a 1:10 ratio, means that one stock with a face value of ₹10 per share would be subdivided into 10 shares each having a face value of Re 1.
This move is significant as it could potentially increase the liquidity and affordability of the stock, making it more attractive to a wider range of investors. The company informed the Indian exchanges that the record date for the stock subdivision had been fixed on 9th August 2024.
The small-cap company informed about the stock split record date saying, "This s to inform you that the Company has fixed Friday, 9th August 2024 as the "Record Date" for determining entitlement of Equity Shareholders for subdivision/ split of existing Equity Shares of the Company, such that 1 (one) equity share having face value of Rs. 10/- (Rupees ten only) each, fully paid-up, will be sub-divided into 10 (ten) equity shares having face value of Re. 1/- (Rupee one only) each, fully paid-up, ranking paripassu in all respects, approved by the Equity Shareholders through Postal Ballot on 3rd July 2024, as already intimated to the Stock Exchanges."
Earlier in an exchange filing, the small-cap company had informed about the stock split saying, "This is to inform that the Ordinary Resolution as set out in the Postal Ballot Notice dated 24th May 2024 regarding sub-division/ split of equity shares of the Company, such that 1 (one) equity share having face value of Rs. 10/- (Rupees ten only) each, fully paid-up, will be sub-divided into 1 O (ten) equity shares having face value of Re. 1/- (Rupee one only) each, fully paid- -up, ranking pari-passu in all respects, by alteration of Clause V of the Memorandum of Association of the Company, has been approved by the members of the Company with requisite majority."
The small-cap stock is one of the multiabgger stocks that the Indian stock market has delivered in the post-COVID rebound. Rushil Decor share price bnottomed out at ₹65 at the end of September 2020 and today Rushil Decor share price is oscillating around ₹365. This means the small-cap stock has delivered over 450 percent return to its positional shareholders in post-COVID rebound in the last four years.
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