1:2 Stock split: This PSU defence and aerospace company recorded heavy volume post share split, rallied over 17 per cent, and hit 52-week high!
Shares of Bharat Dynamics Ltd (BDL) traded ex-stock split during Friday's session, transitioning from a face value of Rs 10 to 2 shares with a face value of Rs 5 each.
On Friday, the stock soared 17.30 per cent, reaching an adjusted one-year high of Rs 1,650.
Each fully paid equity share with a face value of Rs 10 was split into two fully paid equity shares with a face value of Rs 5 each.
It specializes in manufacturing surface-to-air missiles (SAMs), anti-tank guided missiles (ATGMs), air-to-air missiles (AAMs), underwater weapons, launchers, countermeasures, and test equipment.
1:2 Stock split: This PSU defence and aerospace company recorded heavy volume post share split, rallied over 17 per cent, and hit 52-week high!
The stock has delivered a multibagger return of over 160 per cent in just six months only.
Shares of Bharat Dynamics Ltd (BDL) traded ex-stock split during Friday's session, transitioning from a face value of Rs 10 to 2 shares with a face value of Rs 5 each. On Friday, the stock soared 17.30 per cent, reaching an adjusted one-year high of Rs 1,650. On BSE the stock recorded a significant spurt in trading volumes by 4.44 times. The market in capitalization stands at Rs 55,992 crore. Additionally, the shares of the company delivered impressive multibagger returns of around 163 per cent in the past six months only.
The company had informed via a press release earlier that Friday, May 24, 2024, was designated as the record date for determining the eligibility of shareholders for the subdivision or stock split of existing equity shares. Each fully paid equity share with a face value of Rs 10 was split into two fully paid equity shares with a face value of Rs 5 each.
Bharat Dynamics Limitted is a Government of India Enterprise. It is engaged in the manufacturing of guided missiles and allied defence equipment. It specializes in manufacturing surface-to-air missiles (SAMs), anti-tank guided missiles (ATGMs), air-to-air missiles (AAMs), underwater weapons, launchers, countermeasures, and test equipment.
According to the Quarterly Results, in Q3 FY24, the company reported a revenue of Rs 602 crore, representing a growth of 30 per cent, and a net profit of Rs 135 crore. In FY23, the company reported a revenue of Rs 2489 crore and a net profit of Rs 352 crore, compared to a net profit of Rs 500 crore in the previous year.
According to the shareholding pattern, the promoters, represented by the President of India, hold approximately 74.93 per cent of Bharat Dynamics Ltd (BDL). Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) hold 2.95 per cent and 12.39 per cent, respectively, while public investors hold 9.72 per cent of the company.
Investors must keep this Large-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
