Stock split: Multibagger metal stock to trade ex-date on March 17 - check record date and ratio
Stock split: Hi-Tech Pipess has approved the split of existing equity shares bearing a face value of Rs 10 each in the ratio of 10:1. It means that one equity share will split into 10 shares bearing a face value of Re 1 each.
Stock Split, Hi-Tech Pipes Stock split: Hi-Tech Pipes shares, which have given multibagger returns in the last 1 year, will trade ex-date for the split on Friday, March 17. The board of Hi-Tech Pipes has approved the sub-division or split of existing equity shares bearing a face value of Rs 10 each in the ratio of 10:1. It means that one equity share will split into 10 shares bearing a face value of Re 1 each.
The steel processing company on Wednesday informed exchanges about the International Securities Identification Number (ISIN). An ISIN is a 12-digit alphanumeric code that uniquely identifies a specific security.
“In continuation to our earlier communication dated March 03. 2023 with respect to Sub-Division of One (1) Equity Share of face value of Rs. 10/- each fully paid up into Ten (10) Equity Shares of Re. I/- each fully paid up w.e.f. the record date i.e. March 17," the company said.
Click Here For Latest Updates On Stock Market | Zee Business Live
"The Depositories have allotted New ISIN: INE106T01025 to the company. Please be informed that the shares with reduced face value will take effect in the new ISIN," the filing said.
The New Delhi headquartered company is the manufacturer and supplier of ERW pipes. It also manufactures a broad range of steel tubes and pipes. The company in the third quarter of FY23 reported a 28 per cent rise in the net profit at Rs 13.02 crore compared to Rs 10.17 crore in the same quarter last fiscal.
Hi-Tech Pipes owns and operates integrated manufacturing facilities at Sikandrabad in Uttar Pradesh, Sanand in Gujarat and Hindupur in Karnataka. The company recently signed an agreement with the Uttar Pradesh government to set up a steel manufacturing facility at an investment of Rs 510 crore.
Hi-Tech Pipes Share Price History
Shares of Hi-Tech Pipes have zoomed a whopping 72 per cent in the last one year. The stock quoted at Rs 877.25 at close on Wednesday. Its 52-week range is Rs 989.65 - Rs 393.20.
SIP investment: Avoid THESE 8 mistakes to reap maximum gains
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.