Inertia Steel Ltd, a prominent player in the diversified commercial services sector, has made headlines with the announcement of its first-ever stock split in 24 years, approved by the company’s board on October 22, 2024. This decision to split shares in a 10:1 ratio is seen as a strategic move to enhance liquidity and attract a broader range of investors.
Stock Split Details
The stock split will reduce the face value of Inertia Steel’s shares from ₹10 to ₹1, making shares more accessible to retail investors. This significant decision is now subject to approval in an upcoming Extraordinary General Meeting (EGM). The last trading price of Inertia Steel shares on the BSE was ₹512.90, reflecting a modest gain of 2.00% on October 22, 2024.
Impressive Stock Performance
Inertia Steel has shown remarkable performance in the stock market, with shares skyrocketing 204% in the last three months and an impressive 251% increase year-to-date in 2024. The company’s market capitalization currently stands at ₹614.39 crore, and its shares have been hitting upper circuit limits, signaling robust investor interest.
The stock’s 52-week performance reveals a high of ₹512.90, achieved just prior to this announcement, and a low of ₹138.70 earlier in the year. This performance indicates not only the company’s resilience but also its growing appeal in the market.
About Inertia Steel Ltd
Founded in 1984, Inertia Steel Ltd operates as merchants, commission agents, and brokers, primarily trading in iron and steel. The company has built a reputation over decades, but its recent stock split signifies a shift towards greater shareholder engagement and a proactive approach to market challenges.
Inertia Steel’s approval of a 10:1 stock split is a significant milestone, marking its first such initiative in over two decades. With strong stock performance and an evolving strategy, the company aims to broaden its investor base and enhance liquidity. This development could present exciting opportunities for both current and potential shareholders.
Disclaimer
This blog is for informational purposes only and does not constitute financial advice. Investors are encouraged to conduct their own research or consult with a financial advisor before making investment decisions. The stock market is subject to risks, and past performance is not indicative of future results.
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