1:10 Stock Split of NBFC Stock: January 16 Record Date For Sub-Division of Shares; Time To Bet?

Regis Industries Limited is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI). Since its formation on May 14, 1982, the business has functioned as an NBFC. Investing in shares and securities is its main activity. Regis Industries' shares finished 5.65% down on Monday at Rs 125.35 apiece, with a market value of Rs 215.70 Cr, after the company's announcement of the record date for a 1:10 stock split.

Regis Industries Stock Split Record Date

"In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, our earlier letter dated 29 December 2021 we have informed that the Company has fixed Thursday, January 16, 2025 as the "Record Date", for the purpose of sub-division of Company's 1 (one) equity shares of face value of Rs. 10/- each into 10(ten) equity shares of face value of Rs 1/-each, subject to the approval of shareholders which is being obtained through Postal Ballot (including e-voting) in accordance with the applicable laws and regulations," said Regis Industries in a stock exchange filing.

Regis Industries Stock Split News

"The Board of Directors of the company has fixed a record date of 16th January 2025 for purpose of sub-division/stock split of Rs.10/- per share of the company into the shares of Rs.1/- each. We hereby undertake that the company will set up Auto Corporate Action with both the Depositories CDSL and NSDL for execution before BOD on the trading day succeeding the record date. Further, the company undertakes to resolve any complaint on account of the failure on the part of the company to complete all formalities for execution of Auto Corporation Action," informed Regis Industries to stock exchanges.

Regis Industries Share Price Target

"Regis is bearish and very oversold on the Daily charts with next support at 119. Investors should buy only if Daily close is above resistance of 143, which could lead to a target of 166 in the near term," commented A R Ramachandran, Independent Research Analyst.

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