From Rs 10 To Rs 2: IOLCP Completes 1:5 Share Split; Will The New Face Value Attract Buying At Fresh Lows?

IOL Chemicals and Pharmaceuticals Limited (IOLCP) on March 13 confirmed that Depositories had credited shares related to the division or split of equity shares, for which the record date was March 11. After the company's equity shares with a face value of Rs. 10 were divided into five equity shares with a face value of Rs. 2 each, NSDL and CDSL credited the subdivided shares under the new ISIN, INE485C01029 to the eligible shareholders whose names were the record books of the company on the record date. After completing the 1:5 split of its equity shares, IOL Chemicals and Pharmaceuticals Ltd. (IOLCP) converted each share with a face value of Rs 10 into five shares with a value of Rs 2. The action, which aims to improve affordability and liquidity, increases routine investors' opportunity to purchase IOLCP's shares. After the split, the total number of shares increased from about 5.87 crore to 29.35 crore.

IOL Chemicals and Pharmaceuticals Stock Split

"In continuation to our earlier letter dated 7th February 2025 and 5th March 2025, we would like to submit that consequent upon sub-division / split of the equity shares of the Company having face value of Rs. 10/- (Rupees Ten only) into five (5) equity shares having face value of Rs. 2/-(Rupees Two only) each, the sub-divided shares have been credited under new ISIN - INE485C01029 by National Securities Depositories Limited ("NSDL") and Central Depository Services (India) Limited ("CDSL"). The confirmation letters issued by NSDL and CDSL in this regard are enclosed for your reference," said IOL Chemicals and Pharmaceuticals in a stock exchange filing on 13th March 2025.

IOL Chemicals And Pharmaceuticals News

The company's API product "Quetiapine Fumarate" received a Certificate of Suitability from the European Directorate for the Quality of Medicines & Health Care (EDQM) last week on March 4, 2025.

"This certification will enable the Company to export Quetiapine Fumarate to European and other countries that accept CEPs. Quetiapine Fumarate is an antipsychotic drug which is widely used to treat various mental health disorders," IOL Chemicals And Pharmaceuticals confirmed.

IOL Chemicals Share Price Target

"IOLCP is currently trading at 60.70 and remains in a clear downtrend. The stock has been forming a pattern of lower highs and lower lows over the past few months, signaling continued weakness. Although it previously attempted a rebound from its 52-week low, it faced rejection at the 50-day EMA and subsequently made a fresh low. This price action suggests a bearish continuation pattern, reinforcing the overall negative sentiment," as per the analysis of Mandar Bhojane - Equity Research Analyst at Choice Broking.

"The exponential moving averages (EMA) for 20, 50, 100, and 200 days are aligned in a bearish formation, with shorter-term EMAs positioned below the longer-term EMAs. This alignment confirms sustained weakness in price action, as the stock continues to trade below these key moving averages, indicating a lack of buying momentum," the analyst commented.

"On the upside, resistance is observed at 65, while on the downside, major support is located around 54. The relative strength index (RSI) is at 34.11, reflecting weak momentum and remaining close to the oversold zone. However, the RSI needs to move above 40 to indicate any sign of strength. The stock is likely to stay in a downtrend unless it moves above important resistance levels. Traders should exercise caution and wait for signs of a trend reversal or increased buying interest before considering long positions," Mandar Bhojane further commented.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.