1:10 Stock Split 1st Ever: Record Date To Be Announced In Due Course of Time; BUY?

The 71-year-old T.T. Group's flagship firm, TT Ltd., is involved in all aspects of the textile industry, including cotton, yarn, fabric, garments, and accessories. The company manufactures textiles and clothing. Three-star export house with government registration and ISO 9001 certification. The company operates 25 franchise production units specifically for T.T. at eight distinct sites. Gajroula (UP), Avinashi (Tamil Nadu), Kolkata (West Bengal), and Rajula (Gujarat) are the locations of the company's production plants.

TT Ltd Stock Split

The Board of Directors "Approved Sub-division/ split of existing Equity Shares of the Company from One equity share having face value of Rs. 10/- (Rupees Ten) each, fully paid-up, into 10 (Ten) equity shares having face value of Rs. 1/- (Rupee One ) respective, fully paid-up, subject to approval of the Shareholders. The record date for the purpose of the above sub-division/split of Equity Shares shall be decided after obtaining approval of the shareholders and other necessary approval and will be intimated in due course," said the company in a stock exchange filing.

According to TT Ltd, the rationale behind the stock split is to enhance the liquidity of the company's equity shares and encourage the participation of small investors by making it more affordable also, to broaden the retail investors base.

TT Ltd News

"The Board of Directors of the Company at its Meeting held on 16th December, 2024 subject to approval of the Members, approved alteration of Capital Clause (Clause V) of the Memorandum of Association of the Company as below: V. The authorized Share Capital of the Company is Rs. 45,00,00,000 (Rupees Forty Five Crores) divided into 45,00,00,000 (Rupees Forty Five Crore only) Equity Shares of face value of Rs. 1/- (One Rupee) each," TT Ltd informed stock exchanges.

TT Ltd Share Price Target

"TT Ltd stock price is bearish on the Daily charts with strong resistance at 185. A Daily close below support of 160 could lead to a target of 134 in the near term," said A R Ramachandran, Independent Research Analyst.

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