Sellwin Traders Limited (STL) is gearing up for some significant changes in its share structure. Here’s a summary of the key developments:
- Bonus Shares Announcement: STL has announced a bonus issue of equity shares. The company will issue 1 new fully paid-up equity share of face value ₹2 for every 8 existing fully paid-up equity shares of face value ₹2 each. The record date for this issuance has been set for November 1, 2024, pending approval at an Extra Ordinary General Meeting scheduled for October 21, 2024.
- Stock Split Announcement: Along with the bonus shares, STL has also announced a stock split, where every 1 equity share of face value ₹10 will be split into 5 equity shares of face value ₹2 each. This also has a record date of November 1, 2024, and is subject to shareholder approval on the same date.
- Current Stock Analysis: The stock is currently viewed as sideways to bearish, with resistance at ₹26. A daily close below the support level of ₹24 could lead to a price target of ₹21.3 in the near term, according to independent research analyst A. R. Ramachandran.
These developments could impact the share price and trading volume of STL, especially if shareholders respond positively to the bonus issue and stock split. If you’re considering investing, it might be wise to keep an eye on the company’s upcoming meetings and market performance leading up to the record date.
Disclaimer: The information provided in this communication is for informational purposes only and does not constitute financial advice. Investing in stocks involves risks, including the loss of principal. Before making any investment decisions, you should consult with a qualified financial advisor to assess your individual financial situation and investment goals. The announcements regarding Sellwin Traders Limited, including the bonus shares and stock split, are subject to shareholder approval and market conditions. Past performance is not indicative of future results.
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