Chemical stock is 93% above 52-week-low, record date fixed for 1:5 stock split
With a market valuation of ₹1,803.67 crore, Vishnu Chemicals Limited is a small-cap business that operates in the chemical industry. Vishnu Chemicals has been a chemical maker and supplier for international firms in the steel, glass, pharmaceutical, pigments and dyes, leather and related sectors for three decades. The corporation has a presence in major geographies, including Asia, China, South East Asia, Europe, the United Kingdom, North, South, and Central America, and Africa.
The company has said in a stock exchange filing that “Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that, the Board of Directors of the Company has passed the necessary resolution through Circular Resolution, on 15th December, 2022 and has fixed the record date on Friday, 13th January, 2023 for the purpose of sub-division of 1 equity share of Rs. 10/- each into 5 equity shares of Rs. 2/-each fully paid up, pursuant to the shareholders’ approval received through postal ballot by way of electronic means on 14th December,2022.”
The Board of Directors said for the purpose of sub-division of every 1 equity share of the face value of ₹10/- each into 5 equity shares of the face value of ₹2/- each, the record date has been fixed which market watchers can be aware of.
The shares of Vishnu Chemicals closed on Friday at ₹1,520.00 apiece, up by 0.27% from the previous close of ₹1,515.90. The stock recorded a total volume of 25,946 shares compared to the 20-Day average volume of 20,737 shares. The stock has produced a multibagger return of 1331.96% over the past three years and a multibagger return of 296.09% over the past five years. The stock has appreciated by 86.86% over 1 year, and it has gained by 77.90% YTD in 2022.
The stock had touched a 52-week-high of ₹2,170.00 on (08-September-2022) and a 52-week-low of ₹785.00 on (22-December-2021), indicating that at the current market price the stock is trading at 29.95% below the 1 year high and 93.63% above the 1 year low. For the quarter ended September 2022 or Q2FY23, the company posted a promoter shareholding of 75.00%, FIIs stake of 1.25% and a public stake of 23.75%. According to Trendlyne data, FII/FPI holdings in Vishnu Chemicals climbed from 0.58% to 1.25% whereas the number of FII/FPI investors also rose from 16 to 27, while institutional investors’ holdings climbed from 0.58% to 1.25% in Q2FY23.
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