KPT Industries Ltd., formerly known as Kulkarni Power Tools Ltd., is a prominent Indian manufacturer based in Shirol, Maharashtra. Established in 1976, the company specializes in producing blowers, e-vehicles, power equipment, and a range of products including garden tools, control motors, electric power tools, and replacement parts.
In a significant development, KPT Industries announced that its Board of Directors will soon discuss the company’s first-ever stock split. This announcement comes as the company’s shares experienced a 2.79% increase, closing at ₹1,218.70 per share on the BSE. The proposed stock split will involve subdividing each equity share, currently valued at ₹5, into shares with a nominal value of ₹1 each, subject to approval from shareholders via postal ballot.
The Board of Directors is scheduled to meet on November 11, 2024, to approve the unaudited financial results for the half-year ending September 30, 2024, and to finalize the stock split details. Following this meeting, the trading window for the company’s securities will be closed until November 13, 2024.
Market analysts are optimistic about KPT Industries’ stock trajectory. A. R. Ramachandran, an independent research analyst, highlighted strong bullish indicators, with critical support at ₹1,160. If the stock closes above the resistance level of ₹1,200, it could target ₹1,325 in the near term.
This stock split marks a pivotal moment for KPT Industries, aiming to enhance liquidity and attract a broader base of investors.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. KPT Industries Ltd. and its management do not guarantee the accuracy or completeness of the information presented.
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