In A Move To Attract Investors: Metal Stock Declares 1:10 Stock Split; What It Means For Shareholders?

One of the top producers of steel pipes and tubes, black steel tubes, galvanised steel tubes, HR sheets, and other products is Rajasthan Tube Manufacturing Company Limited. It is one of the top producers of steel pipes and tubes, H.R. sheets, black steel tubes, galvanised steel tubes, and steel square tubes, among other products. Following the Board's announcement of a 1:10 stock split, the shares of Rajasthan Tube Manufacturing Company Ltd. closed Tuesday at a 2% upper circuit limit of Rs 142.35 a share, with a market capitalisation of Rs 64.17 Cr.

Rajasthan Tube Manufacturing Company Stock Split

"The Board has approved to split 1 (One) equity share of the Company having face value of Rs.10/- each into 10 (Ten) equity shares having face value of Re. 1/- each and consequent alteration of the Capital Clause (Clause V) of the Memorandum of Association (MOA) on account of spit of face value of equity shares, subject to consent of members of the Company. The record date for the split of equity shares shall be decided by the Board and will be intimated to the exchange in due course," said Rajasthan Tube Manufacturing Company in a stock exchange filing.

Rajasthan Tube Manufacturing Company News

"The Board has approved to increase the Authorised share capital of the Company from existing Rs. 8,00,00,000 (Rupees Eight Crores only) to Rs. Rs. 58,00,00,000 (Rupees Fifty Eight Crores Only) ranking pari-passu with the existing Equity Shares in all respects as per the MOA of the Company and consequent alteration of the Capital Clause (Clause V) of the Memorandum of Association (MOA) on account of increase in Authorised Share Capital, subject to consent of members of the Company," Rajasthan Tube Manufacturing Company informed stock exchanges on Tuesday.

Rajasthan Tube Manufacturing Company Share Price Target

"Rajasthan Tube stock price is bullish but also overbought on the Daily charts with strong support at 134. Investors should book profits if Daily close is below support of 134. Next resistance is at 145," commented A R Ramachandran, Independent Research Analyst.

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