This multibagger stock fixes record date for stock split: Details inside

With a market valuation of 398.80 crore, Banswara Syntex Ltd. is a small cap company that works in the textiles industry. One of Asia’s largest single-mill setups for fibre-dyed yarn is Banswara Syntex. The firm offers a variety of textiles and technical fabrics, and it has a wide market presence in more than 50 nations, including the United States, the United Kingdom, Canada, Spain, Germany, Japan, France, the United Arab Emirates, and Turkey. The company’s Board of Directors has announced a record date in order to determine the eligibility of shareholders for the purpose of sub-division / split of 1 equity share having a face value of 10/- each into 2 equity shares having a face value of 5/- each, which existing shareholders and new investors need to be aware of.

The company has said in a regulatory filing that “Please refer to outcome for Board Meeting held on 31st July, 2022. In this regard, in terms of Regulation 42 (2) of the SEBI Listing Regulations, Friday, 9th September, 2022 has been fixed as the ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division / split of 1 (one) equity share having face value of 10/ – (Rupees Ten only) each, into 2 (two) equity shares having face value of 5/ – (Rupees Five only) each as approved by the shareholders at the 46th Annual General Meeting of the Company held on 30th July, 2022.”

Banswara Syntex Ltd. shares ended trading on Friday at Rs. 235.00 per share, down 1.67 per cent from the previous close. In the last 5 years, the stock has gained 69.74% and in the last 3 years, the stock price has risen from 57.80 as of 6th August 2019 to the current price level, which results in a multibagger return of 359.22%. The stock has gained 5.62 per cent over the last year, and on a year-to-date basis, it has gained 2.51 per cent so far in 2022. The stock has dropped 14.36 per cent in the past six months, but in the past month, it has recovered by 10.30 per cent.

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