This Penny Stock Fixes Record Date For Stock Split: Check Details

Svarnim Trade Udyog Ltd is a small-cap firm that specialises in textile trade, including cotton, poly-cotton, and other synthetic fibers. The company has a market capitalization of 27 crore, and the BSE listed stock has set June 2, 2022 as the date for a stock split.

The company has informed BSE by saying that “pursuant to Section 91 of the Companies Act, 2013 and in compliance with Regulation 42 of SEBI LODR Regulations, 2015, members are hereby informed that the Company has fixed Record date of June 2, 2022 for consolidation in face value of Equity Shares of in face value of Equity Shares of Re. 1/- to Rs.10/- each under Regulation 42 of SEBI LODR Regulations, 2015.”

In the previous year, the stock dropped from 51.80 on June 28, 2021 to 11.17 on May 27, 2022, at 3:30 pm IST, a loss of 78.44 per cent. The stock is down 60.81 per cent year-to-date (YTD) so far in 2022, and -75.66 per cent in the previous six months. In the previous month, the stock has lost 23.39 per cent of its value, but it has gained 21.41 per cent in the last five trading days. The stock closed at the upper circuit on Friday, with a one-day range of 11.17 – 11.17, a total volume traded of 745, and a bid price per quantity of 11.17 vs an offer quantity of 9.77.

The stock is trading higher than 5-day moving averages but lower than 20 days, 50 days, 100 days, and 200-day moving averages at the current market price of 11.17. The stock fell to a 52-week low of 8.92 on May 20, 2022, and touched a 52-week high of 51.90 on June 28, 2021, implying that it is currently trading at a 78 per cent discount from its 52-week-high.

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