Multibagger penny stock approves stock split: Check key takeaways

Market


Ontic Finserve Ltd is a small-cap company in the financial services industry with a market cap of 108 crore. Ontic Finserve’s shares closed at 12.00 per share today, down 5.73 per cent from its previous closing of 12.73. The Board of Directors of the company has approved a stock split and for the same, the company has said on 9th June 2022 in a filing to BSE that “Kindly acknowledge that the board meeting was held today at the registered office of the company at 2:00 P.M. The following is the outcome of the said meeting:”

1. To call the Annual general meeting of the company on 11.07.2022 at 01:00 PM. at the registered office of the company.

2. To approve the Director’s Report along with the Annual Report for the F.Y. ended 31.03.2022.

3. Register of Members and share transfer books will remain closed from 05.07.2022 TO 11.07.2022 (both days inclusive).

4. To appoint Mrs. Khushbu Trivedi, practicing company secretary as scrulinizer for the Annual General Meeting.

5. To Sub-divide or Split the shares of the company from the face value of Rs. 10/- each to Rs. 1/- each (after sub-division of shares).

6. Alteration in the Authorised Share Capital of the company by altering the Capital Clause of Memorandum of the company.

7. To regularize the appointment of additional director Ms. Madhuben Jivabhai Parmar.

8. The Board has decided that not to change the object clause of the company so that there is no any change in the object clause of the company. The Object clause would remain the same.

Ontic Finserve’s stock has risen from 3.42 on June 21, 2021 to 12 today, signifying a multibagger return of 250.88 per cent in a year, however, the stock has plummeted 60.00 per cent year-to-date (YTD) so far in 2022. Ontic Finserve is now trading below the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, based on the last traded price.

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