Achyut Healthcare Ltd. has been quite active with significant corporate actions like the 1:10 stock split and the issuance of 4:10 bonus shares. Here’s a summary of the key points:
- Stock Split and Bonus Shares: The company announced a 1:10 stock split, which means one equity share of Rs. 10 will be divided into ten shares of Rs. 1 each. Additionally, for every ten fully paid-up equity shares held, shareholders will receive four bonus shares of Rs. 1 each. This decision is subject to shareholder approval.
- Current Share Performance: Following the announcements, Achyut Healthcare’s shares hit the upper circuit limit, closing at Rs. 79.50, reflecting a 20% increase. The market capitalization stands at Rs. 133.76 crore.
- Authorized Capital Increase: The company is also looking to raise its authorized share capital from Rs. 18 crore to Rs. 24 crore to facilitate future fundraising through equity shares. This requires an amendment to the Memorandum of Association, which also needs member approval.
- Market Outlook: Analysts suggest that while the stock is currently bullish, it may be overbought, with a resistance level at Rs. 92. Investors are advised to book profits at current levels, as a drop below Rs. 69 could lead to a price target of Rs. 45 in the near term.
This activity indicates a strategic move to enhance liquidity and attract more investors, especially in the growing pharmaceutical sector. If you’re looking into potential investments, keep an eye on how these developments impact the company’s long-term performance.
Disclaimer: This content is for informational purposes only and should not be considered financial or investment advice. The performance of Achyut Healthcare Ltd.’s shares is subject to market risks, and past performance does not guarantee future results. Always conduct your own research or consult with a financial advisor before making investment decisions. The information provided herein is based on publicly available data and may not reflect the most current developments.
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