Small-cap stock to trade ex-split next week after giving 90% YTD return

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Stock split 2022: Shares of Mafatlal Industries Ltd are going to trade ex-dividend next week. The board of directors of this small-cap company has fixed record date for stock subdivision on 25th November 2022 i.e. Friday next week. The directors of 17-year old company also approved and declared stock split in the ratio of 1:5, which means equity share of 10 face value will be divided into 5 equity shares of 2 face value.

Mafatlal Industries stock split details

The small-cap company informed stock market exchanges about the stock split record date citing, “With reference to our earlier letter dated 17th September, 2022 and in terms of Regulation 42(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Committee of the Board of Directors of the Company has fixed Friday, 25th November, 2022 as the Record Date for determining the eligibility of shareholders, with regards to the Subdivision (Split) of existing Equity Shares of the Company from One (1) equity share having a face value of Rs. 10/- each (fully paid-up) into Five (5) Equity Shares of face value of Rs. 2/- each (fully paid-up), as approved by the shareholders through postal ballot by way of electronic means on 7th November 2022.”

Mafatlal Industries share price history

After ushering in 2022, Mafatlal Industries shares have given strong upside move throughout the year, barring some base building phases after profit booking trigger. In last six months, this small-cap stock has risen from around 185 to 345 apiece levels, delivering around 80 per cent return to its shareholders. In year-to-date (YTD) time, this stock has surged from around 175 apiece levels to 345 per share levels, logging near 90 per cent rise in 2022.

In post-Covid rally, Mafatlal Industries share price has ascended from around 65 apiece levels to 345 per share levels, giving more than 400 per cent return to its positional shareholders in near 30 months. However, the stock has been under base-building mode after surging to its life-time high of 408 apiece on BSE in September 2022.

Mafatlal Industries Ltd owns third largest textile mill of India and it has presence in various industries like textile, chemical, IT, real estate, healthcare, etc.

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