Small-cap automotive stock announces stock split. Details here

Market


One of the dividend paying stocks in FY22, Savita Oil Ltd has announced stock split in the ratio of 5:1. The board of directors of the small-cap automotive company informed Indian bourses that board of the company has decided for subdivision of the company shares from current face value of 10 per equity share to 2 per equity share. The company has already announced 250 per cent final dividend for the financial year 2021-22.

Savita Oil Limited informed Indian bourses about the development citing, “Pursuant to Regulation 30 read with Part A of Schedule III and all other applicable regulations, if any, of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Board of Directors at its meeting held today at its Registered Office at 66/67, Nariman Bhavan, Nariman Point, Mumbai 400021 has approved the following, subject to the approval of the Shareholders of the Company: Sub-division of 1 (One) equity share of face value of Rs.l0/- each into 5 (Five) equity shares of face value of Rs.2/- each.”

Last month on 30th May 2022, Savita Oil had announced final dividend payment citing, “Pursuant to Regulation 30 read with Part A of Schedule III, Regulation 33 and all other applicable regulations, if any, of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Board of Directors at its meeting held today at its Registered Office at 66/67, Nariman Bhavan, Nariman Point, Mumbai 400021 has approved final dividend @250% (Le. Rs.25/- on each fully paid equity share of Rs.10/-) for the financial year 2021-22, subject to approval of the Shareholders at the ensuing Annual General Meeting of the Company.”

Current market cap of the dividend paying stock is 15.9 crore and the stock ended Tuesday session with a trade volume of 33,409, which is more than 3 times higher from its last 20 days average trade volume of 9,805. The dividend yield of the of the company is 2.29 per cent. Its 52-week high is 1830 and 52-week low is 932 apiece levels.

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