Ahead of the opening of the stock market next week, market watchers should be aware of ongoing corporate announcements covering stock splits. Vaxtex, Accuracy Shipping, Shreeji Translogistics, and KCD Industries are the four stocks that will turn stock split next week. When a firm announces a stock split, the number of its shares rises, and the price per share falls, but the market capitalization stays the same.
Companies typically announce stock splits to boost share liquidity for small investors. Investors must have shares of the firm in their demat accounts on the record date, which is the date that determines the shareholders to credit the corporate announcements such as stock split, bonus shares or dividend. The above-mentioned firms’ boards of directors have established a record date for stock split in the upcoming week’s sessions, and as a result, pursuant to the T+1 settlement process implemented by the Indian stock market, the stocks will also begin trading ex-split on that day.
Vaxtex Cotfab Ltd
“Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, the Company has fixed Wednesday, 15th February, 2023 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for Sub-division/ Split of 1 (One) Equity share of the Company having face value of Rs. 2/- (Rupees Two Only) each into 2 (Two) Equity shares having face value of Re. 1/- (Rupee One Only) each,” said the company in a stock exchange filing. Hence, the stock shall trade ex-split on 15th February, 2023. On Friday, the shares of Vaxtex Cotfab closed on the NSE at ₹6.20, down by 0.80% from the previous close of ₹6.25.
The Board of Directors of Accuracy Shipping has informed NSE by saying 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 resolution on 01st February, 2022 and has fixed the record date as Wednesday, 15th February, 2023 for the purpose of sub-division of 1 equity share of Rs. 10/- each into 10 equity shares of Rs. 1/- each fully paid up, pursuant to the shareholders’ approval received through postal ballot by way of electronic means on 19th January, 2023.” The shipping company stock is going to trade ex-split on Wednesday next week as the board of directors of the company has fixed 15th February 2023 as record date for above-mentioned stock split. On Friday, the shares of Accuracy Shipping closed on the NSE at ₹173.00, down by 1.70% from the previous close of ₹176.00.
Shreeji TranslogisticThe Board of Directors has said in a stock exchange filing that the company has fixed Wednesday, 15th February 2023 as the record date for the purpose of determining eligible shareholders for sub-division (split) of each equity share of face value of ₹10 each into 5 equity shares of face value of ₹2 each fully paid up, approved by the shareholders. Hence, the stock is also going to trade ex-split on Wednesday. On Friday, the shares of Shreeji Translogistics Ltd closed on the BSE at ₹382.35 apiece, down by 1.38% from the previous close of ₹387.70.