10:2 Stock Split, 1:10 Bonus Issue: Shares of Investment Firm Zooms to Hit Upper Circuit
10:2 stock split, 1:10 bonus issue: shares of investment firm srestha finvest zooms to hit upper circuit
Srestha Finvest share price hit the upper price band on Monday. The counter hit the upper circuit of 5 per cent in the early trade. The stock has gained after four days of fall and in today's session it outperformed the sector by 3.36 per cent. It is moving higher than 20 day, 50 day, 100 day and 200 day moving averages.
The company is a Non-Banking Financial Company (NBFC) engaged in providing Loans, Finance and Investments, headquartered in Chennai. The equity shares of the Company are listed on The Bombay Stock Exchange Ltd. (“BSE”) and Metropolitan Stock Exchange of India Ltd. in India (MSEI).
The stock is trading at 1.10 times its book value. The company distributed bonus in the ratio 1:10 to its shareholders in 2018. In 2016, the company announced sub-division of its shares in the ratio 10:2, which means the face value of each stock of the company has the present value of Rs 2 from an earlier Rs 10.
Meanwhile, equity benchmark indices climbed in early trade on Monday amid buying in blue-chip stocks like Reliance Industries and Bharti Airtel along with a rally in Asian markets. The 30-share BSE Sensex rose 69.63 points to 79,102.36 in early trade. The Nifty went up by 37.85 points to 24,048.45. In Asian markets, Seoul, Tokyo and Shanghai were quoting higher.