Two companies — Focus Lighting and Fixtures and Surya Roshni — which have delivered multibagger returns to investors in the last one-year period, will trade ex-split on Friday, October 6.
Focus Lighting had earlier approved to split its shares in the proportion of 1:5. This means for every one share that an investor holds, it will be subdivided into five shares.
The proposed stock split will be completed within a period of three months from the date of shareholder's approval.
The smallcap company has fixed October 6 as the record date for the purpose of ascertaining the eligibility of shareholders entitled to sub-division of shares. The stock will also trade ex-split on the same day.
A stock split is usually done to increase the liquidity of the stock in the market. On the record date, investors who are holding the stock until the record date will receive the new shares in Demat accounts and the stock price will be adjusted according to the split ratio.
Focus Lighting shares have delivered multibagger returns to the investors during the last one year, rising 382.73 percent. The stock has gained about 160 per cent in the year 2023 so far. Even in the last six months, the stock has risen about 47 percent.
Meanwhile, Surya Roshni had announced a stock split in the ratio of 1:2, which means, for every one share investors hold, it will be divided into two shares. The company too has fixed October 6 as the record date for the same.
Shares of Surya Roshni have risen nearly 100 percent in the last one year and it's up 83 percent so far in 2023.
(Edited by : C H Unnikrishnan)
First Published: Oct 5, 2023 10:48 AM IST
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