1:2 Stock Split: Darling Electric Share of Mutual Funds Approaches One-Year High Prior to Dividing Into Two Shares

Bharat Bijlee’s share price has increased by 145% from its 52-week low of Rs 2,395.40 per share.

The firm Bharat Bijlee plans to split its share price in half, or a 1:2 stock split. This entails a stock split of the current one equity share, which has a face value of Rs. 10 and is fully paid up, into two equity shares, each worth Rs. 5 and fully paid up, subject to any necessary regulatory or statutory approvals as well as the approval of the company’s members via postal ballot.

The Board will determine and notify the stock exchanges of the record date for the sub-division or split of equity shares.

A stock split is justified by the desire to increase the number of shareholders, improve capital market liquidity, and lower the price of shares for small retail investors. It is anticipated that the stock split will be finished in three months.

Earnings and holdings Pattern of Bharat Bijlee: FIIs/FPIs and mutual funds have both grown their holdings in Q3FY24. As of December 31, 2023, FIIs and FPIs have increased their shareholding to 2.14% from 2.07% as of September 30, 2023. Mutual funds increased their stake to 4.43% in Q3FY24 from 2.27% in Q2FY24, almost twice as much.

In comparison to Q3FY23’s Rs 23.09 crore and Q2FY24’s Rs 27.89 crore, Bharat Bijlee’s third-quarter profit of Rs 29.69 crore was a solid amount. The company’s operating revenue increased to Rs 423.74 crore in Q3FY24 from Rs 388.03 crore in Q3FY23 and Rs 419.82 crore in Q2FY24. Total revenue increased from Rs 395.12 crore in Q3FY23 to Rs 426.74 crore in Q2FY24, ending at Rs 433.33 crore in Q3FY24.

India-based Bharat Bijlee is a well-known provider of electrical engineering services. Power Transformers, Projects, Electric Motors, Magnet Technology Machines, Drives, and Industrial Automation Solutions are its main business sectors. It was founded in 1946.

The business serves a wide range of sectors, including those involved in the creation of the country’s infrastructure, including electricity, refineries, steel, cement, railroads, machinery, construction, and textiles. It is also capable of handling turnkey projects, like as switchyards, and is in a good position to provide comprehensive “concept to commissioning” services.

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