After 1:2 bonus, this multibagger stock may now go for share split; have it in your portfolio?

Multibagger stocks, Stock split: Hardwyn India's board will meet on Wednesday, April 26 to approve and consider the sub-division of shares having a face value of Rs 10 per equity share.  Regulatory filing of the aluminum company said, "A meeting of the Board of Directors is scheduled to be held on Wednesday, April 26, 2023, inter-alia to discuss and approve Split of Equity shares of the Company."

If approved by the board, the split will be subject to the shareholders' approval. The rationale behind this is to increase the liquidity as well as widen the shareholder base. Besides, it makes the shares more affordable to small investors.

What is a stock split?

A stock split is a corporate action that alters the existing shares of a company. When a company announces to split its stock, the number of outstanding shares increases while the price of each share decreases. The face value of the stock also splits in the announced ratio. 

This announcement comes within a year of the bonus issued by the company. In July last year the company declared a 1:2 bonus for its shareholders, i.e., each shareholder was given 1 bonus share for every two shares held by them.

Hardwyn India share price history, Multibagger stock

Leading brand among the architectural hardware manufacturers in India, Hardwyn shares have delivered a multibagger return of 256 per cent in the last year. 

The stock's 52-week high is Rs 355 and 52-week low is Rs 82.4.

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