2:1 Stock Split: Metal Stock Fixes Record Date, Traded Ex-Dividend For Rs 4/Share

Small cap company from metals & ferrous sector, Surya Roshni on Monday fixed October 6, 2023 as the record date for stock split in the ratio of 2:1. Surya Roshni shares soared 90% YTD and offered shareholders return of 103% in last 1-year. When a company announces stock split, it leads to increased number of shares of that company with the market cap remaining same. The current shares split with the underlying value remaining similar. When the number of shares rise, the price per share declines. The companies go for stock split to make the share more affordable. Check details below:

Surya Roshni Sets Record Date For Stock Split: The company on Monday issued its regulatory filing saying, "This is to inform your good office that in terms of Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirement) Regulations, 2015, the Company has fixed Friday, 6 th October, 2023 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for Subdivision of One (1) Equity Share of face value of Rs. 10/- each fully paid up into 2 (two) equity shares of face value of Rs. 5/- each fully paid-up."

Surya Roshni Dividend: The company earlier this year declared final dividend of Rs 4/- share. Board of directors of Surya Roshni on August 11, 2023 set August 25, 2023 as the record date for final dividend of Rs 4/- per equity share for FY 2022-23.

Surya Roshni Stock Performance & Return: Last trading price of Surya Roshni stock is Rs 981.50 per share with intraday fall of 1.43%. Its 52-week high price is Rs 1154.90 per share and 52-week low price is Rs 400.85 per share, respectively. The company has a market capitalisation of Rs 5340.24 crore. Surya Roshni shares witnessed a rally of 103% in last 1-year, gained 27% in last 2-years, soared 386% in last 3-years, and offered shareholders return of 243% in last 5-years. In last 10-years, Surya Roshni stock surged 1257%.

Surya Roshni Financials: The lighting product and pipe maker declared a sharp two-fold surge in its consolidated net profit to Rs 59.13 crore for the quarter ended June 30, 2023 as against Rs 22.24 crore reported in the preceding quarter, according to its BSE filing. Its revenue from operations jumped 2% to Rs 1,875.27 crore for the quarter ended June 30, 2023 as against Rs 1,839.89 crore last year.

About The Company: Surya Roshni started in 1973 with making Steel Tubes, and has grown by leaps and bounds to become one of the largest Steel Pipes and Lighting companies in India. With sales of INR 7,997 crores in FY 2021-22, Surya Roshni is one of the largest conglomerates in India, with exports to over 50 countries around the world.

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