Multibagger chemical stock declares stock split, scrip rallies 220% in 1 year
With a market valuation of Rs. 584.29 Cr., Bharat Agri Fert & Realty Ltd. is a small-cap company that engages in the chemical industry. The company launched a public offering in 1962, and soon after that it was registered on the Bombay Stock Exchange in 2001. The company is one of the industry’s top producers of NPK fertilisers, specialising in SSP fertilisers in powder and granulated form. The corporation has said that the proposed stock split has received board approval.
The company has said in a stock exchange filing that “The board approved the proposal for sub-division of equity shares of face value of Rs.10/- each of the company into 10 equity shares of Rs.1/- each, subject to the approval of the members of the Company.”
Speaking on the rationale behind the said corporate action, the Board said the company have announced stock split to improve the liquidity of the company’s share on stock market and also facilitate small investors to deal in our shares.
The Board made the decision to close the share transfers book and member register for the period beginning on February 21 and ending on February 28, 2023. (both days inclusive). The Board set the record date for delivering the EGM notice to the Company’s members and shareholders as February 3, 2023, and the cut-off date for identifying shareholders’ eligibility to participate in electronic voting at the EGM as February 17, 2023.
On Friday, the shares of Bharat Agri Fert & Realty closed on the BSE at ₹1105.45 apiece level, down by 0.19% from the previous close of ₹1107.55. The stock recorded a total volume of 32,907 shares compared to the 20-Day average volume of 35,193 shares. In the previous five years, the stock price climbed from ₹139.80 to the current market price, yielding a multibagger return of 666.34%. The stock price went up from ₹204.70 to the current market price over the past three years, delivering a multibagger return of 475.76%.
The stock price soared from ₹349.65 to the current market price over the last year, resulting in a multibagger return of 223.14%. The stock has seen a YTD performance of 8.00% and a multibagger return of 147.94% over the past six months. The stock touched a 52-week-high of ₹1,215.00 on (27/01/2023) and a 52-week-low of ₹325.00 on (25/02/2022). For the quarter ended December 2022 or Q3FY23, the company reported a promoter shareholding of 67.91% and a public stake of 32.09%.
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