Upcoming Stock Splits: Persistent, 3 Penny Stocks To Turn Ex-Split From March 26-28; YTD Gains Up To 77%
The last week of March is packed with companies turning ex-split. A list of four stocks will be split between March 26th to March 28th, out of which, three are penny stocks.
These are United Van Der Horst, Dhatre Udyog, Lorenzini Apparels, and Persistent Systems. The trading week will be holiday-shortened as the market will be closed on March 25th and 29th.
Accordingly, these stocks will be in focus. Typically, due to a stock split, the demand for a stock rises, the company’s liquidity improves and the respective stock becomes affordable for investors.
United Van Der Horst Stock Split:
1:2 Stock Split: United Van Der Horst, a heavy electrical equipment maker, has announced a stock of 1:5 ratio. It means that 1 equity share of United Van Der Horst will be split into 5 new shares. The face value of Rs 10 will be reduced to Rs 5 per share. The company fixed March 26 as the record date.
Its business comprises Reconditioning, Re-standardizing, Reverse Engineering & Manufacturing services to most of the core sectors such as Marine, Oil Fields, Power Plants, Petrochemicals, Mining and other major processing industries by combining the patented ‘Porous Krome’ and hard chrome plating techniques with highly specialized welding processes.
United Van Der Horst is a penny stock with a current market cap of Rs 200.66 apiece. Last week, on Friday, the stock touched a new 52-week high of Rs 336 apiece before ending at Rs 324.90 apiece marginally up on BSE. YTD, the stock has gained by nearly 72%.
Dhatre Udyog Stock Split:
1:10 Stock Split: Steel maker, Dhatre Udyog will turn ex-split on March 29 for its ratio of 1:10. The face of Rs 10 of Dhatre will be split into Rs 1 per share. Accordingly, 1 equity share will be subdivided into ten new shares.
Ahead of the split record date, Dhatre Udyog’s share price stood at Rs 218.50 apiece, up by 0.5% on March 22nd with a market cap of Rs 238.07 crore. YTD, the stock is up by 14.5%. This steel company is a penny stock.
Formerly known as Narayani Steel, Dhatre Udyog has grown tremendously over the years and is now a highly trusted name in the industry. The growing reputation is thanks to the quality of its diverse products including Rebars, MS Grade Angels, Flats, Squares, Rounds, different sized wire rod coils.
Lorenzini Apparels Stock Split:
1:10 Stock Splits: Yet another penny stock, apparels maker Lorenzini will turn ex-split on March 28th for its stock split ratio of 1:10.
Lorenzini said that consequent to sub-division/split in face value of Equity Shares from Rs. 10/- each to Re 1/-, resulting in 10 Equity Shares of Re 1/- each for existing 1 Equity Share of Rs. 10/- each, conversion ratio for outstanding warrant stand changed to 1 (one) Warrant is convertible, at the option of the warrant-holder by paying the remaining 75% consideration within the time limit prescribed under the provisions of the SEBI (ICDR) Regulations, 2018, into 10 (Ten) Equity Shares of Re 1/- (Rupee One Only).
Lorenzini Apparels is engaged in the business of manufacturing, designing and marketing readymade garments offering a diverse range of men’s formal, semi-formal & casual wear and women’s casual wear. The Company serves its customers through the channels of retail and e-commerce.
On BSE, Lorenzini’s share price stood at Rs 424.75 apiece, at its 2% lower circuit on March 22nd with a market cap of Rs 430.65 crore. YTD, the stock is up by 77.4%.
Persistent Systems Stock Split:
1:5 Stock Split: IT giant Persistent Systems is the only midcap splitting this week. The company fixed April 1 as the record date for splitting into the ratio of 1:10. However, as per BSE data, the stock will turn ex-split on March 28.
Persistent’s existing 1 (One) Equity Share having a face value of INR 10 (Ten) each into 2 (Two) Equity Shares of INR 5 (Five) each, fully paid up, ranking pari passu in all respects.
On BSE, Persistent Systems’ share price stood at Rs 7,966.65, down by 2.90% on March 22nd with a market cap of Rs 61,363.12 crore. YTD, the stock has gained by 9% on BSE.
With over 23,000 employees located in 21 countries, Persistent Systems is a global services and solutions company delivering Digital Engineering and Enterprise Modernization. As a participant in the United Nations Global Compact, Persistent is committed to aligning strategies and operations with universal principles on human rights, labour, environment, and anti-corruption, as well as taking actions that advance societal goals. With 268% growth since 2020, Persistent is the fastest-growing Indian IT Services brand according to Brand Finance.
Pooja Jaiswar Goodreturns
source: goodreturns.in
