Wonder Electricals, a provider of comprehensive solutions for Indian fan manufacturers, was listed on the NSE EMERGE SME Platform on August 6, 2019, after receiving trading permission on August 5. The company transitioned to the main boards of the NSE and BSE on January 17, 2022.
The company has announced a record date of November 12, 2024, for a 1:10 stock split, which will subdivide each share with a face value of ₹10 into ten shares with a face value of ₹1 each. This announcement led to a 3.33% increase in the company’s shares on the BSE, closing at ₹1531.10, resulting in a market capitalization of ₹2,051.80 crore.
In a stock exchange filing, Wonder Electricals stated, “Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015, the Board of Directors has fixed November 12, 2024, as the record date for determining eligibility for the split of equity shares, as approved by shareholders during the 15th Annual General Meeting held on September 24, 2024.”
Following the stock split, the newly subdivided shares will be credited proportionately to the demat accounts of shareholders holding shares in electronic form. The Board approved this stock split on August 22, 2024, viewing it as a means to enhance liquidity and attract small investors while preserving the overall capital structure of the company.
Currently, Wonder Electricals’ stock shows bullish signs, with strong support at ₹1459. Independent research analyst A R Ramachandran mentioned that a daily close above the resistance level of ₹1600 could lead to a target price of ₹1680 in the near term.
Disclaimer:
This announcement is for informational purposes only and should not be construed as investment advice. The information provided herein regarding Wonder Electricals and its stock split is based on publicly available data and market trends as of the date of this communication. Investing in securities involves risks, and past performance is not indicative of future results. Readers are advised to conduct their own research and consult with a qualified financial advisor before making any investment decisions. The authors and publishers of this announcement do not assume any responsibility for any losses or damages arising from reliance on the information provided
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