1:2 Split Stock: Updated Record Date; Acquire The High-Promoter Holding Shares?

United Van Der Horst Ltd. is a small-cap capital goods firm with a market worth of Rs 169.50 Cr as of Thursday’s BSE closing session. This organization is one of the biggest suppliers of services for all maintenance and breakdown needs. In the heavy mechanical core area, UVDHL—also known as United Van Der Horst Ltd.—is a pioneer. Businesses including TATA, JSW, Reliance Industries, Mahindra, ONGC, SAIL, Essar, and others are served by it. The firm has declared a 1:2 stock split in an effort to increase the liquidity of its equity shares and to attract small investors by lowering the cost of investing in the company’s equity shares. The corporation had previously set March 21, 2024, as the record date for the same, however, it has now been changed to March 26, 2024.

Van Der Horst United Stock Split
Regarding our previous notification from Tuesday, February 27, 2024, stating that March 21, 2024, will be the record date for the purpose of splitting the shares. In keeping with this, it has now been determined to alter the record date from March 21, 2024, to March 26, 2024. Thus, in accordance with Rule 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 [“SEBI (LODR), Regulations”] and the rules established thereunder, the new record date is now set for Tuesday, March 26, 2024, as the “record date” for the purpose of establishing the eligibility of the company’s shareholders for the sub-division or split of each fully and partly paid-up equity share with a face value of Rs. 10/- (Rupees Ten Only) each, in accordance with the approval of the shareholders through postal ballot on February 24, 2024.

Van Der Horst Financials, United
In the December 2023 quarter, the firm reported standalone net sales of Rs. 6.00 crore, up 35.74% from Rs. 4.42 crore in the same quarter in 2022. Its net profit for the third quarter of FY24 increased by 144.65% to Rs. 0.89 crore from Rs. 0.37 crore in FY23. In the reporting quarter, the company’s EBITDA of Rs. 2.40 crore was 60% higher than that of Rs. 1.50 crore in the same quarter of the previous fiscal year.

Target Share Price for United Van Der Horst
On the daily charts, United Van Der Horst is bearish, with significant resistance at 313 points. AR Ramachandran from Tips2trades said that a goal of 220 in the near future might result from a daily closing below support of 251.

Van Der Horst United Shareholding
The firm reported a public stake of 27.91%, a DII stake of 0.02%, and a promoter ownership of 72.07% during Q3FY24. In comparison to its competitors, including NBCC, CDSL, and SPARC, United Van Der Horst had a much larger promoter share in the December 2023 quarter.