1:2 Stock Split: Purchase before the record date to be eligible; ex-date is April 24, two days from now
Leading electrical engineering firm Bharat Bijlee Ltd. declared that its shares will be divided, with April 24, 2024, being the last record date. Due to its Monday closing BSE price increase of 0.76% to Rs 6807.65 a share, the stock is now receiving attention. The stock is expected to reach ex-date on April 24 in order to facilitate a two-day, 1:2 stock split. Bharat Bijlee (BSE: 503960, NSE: BBL) is a household name in the industry and one of India’s pioneers in electrical engineering.
Divide of Bharat Bijlee Stock
According to a BSE filing, the Board of Directors of the company has approved and set Wednesday, April 24, 2024, as the record date in order to ascertain the eligibility of the company’s shareholders for the sub-division / split of the existing one equity share with a face value of Rs. 10/-each, fully paid up, into two equity shares with a face value of Rs. 5/-each, fully paid up.
Bijlee Finances of Bharat
When looking at the firm on its own, it made Rs 433.33 crore in net income for the quarter that ended in December 2023, as opposed to Rs 395.12 Cr for the quarter that concluded in December 2022. In Q3FY24, its net costs amounted to Rs 388.33 Cr, up from Rs 358.71 Cr in Q3FY23. In a stock market filing, Bharat Bijlee said that, compared to Rs 36.41 Cr in the same quarter of FY23, its EBIT for the reported quarter was Rs 45 Cr. In Q3FY24, the firm reported a net profit of Rs 29.69 Cr, up from Rs 23.09 Cr in Q3FY23.
The company’s financial statements for the quarter and year that ended on March 31, 2024, will be discussed and approved by the board of directors during a meeting set for Friday, May 17, 2024.
Target for Bharat Bijlee Share Price
“At Rs. 6686, the company’s stock is now trading with a favorable trajectory. In order to take advantage of this rising trend, investors may want to consider buying the stock between Rs. 6500 and Rs. 6700. Target prices between Rs. 7100 and Rs. 8300 might be sought for, with a four-month holding period in mind. To reduce possible losses, it’s a good idea to put in place a stop loss around Rs. 6100, according to V.L.A. Ambala, a research analyst (SEBI registered) and co-founder of Stock Market Today (SMT).
