AMC stock that rallied 150% this year announces 10:1 stock split. Details here

Stock split 2022: The board of directors of the asset management company (AMC) Greencrest Financial Services has announced subdivision of shares in the ratio of 10:1 that means one stock of face value ₹10 will now get divided into 10 shares each of face value Re 1 per equity share. The company board also fixed 12th October 2022 as record date for stock split.

The AMC company informed about Greencrest Financial Services stock split to stock market exchange citing, "Members are hereby informed that the Company has fixed 12th October 2022 as record date for the purpose of Sub-division of Face Value of Equity Shares."

In its meeting held on 30th August 2022, the AMC company had informed Indian bourses that the board of directors have recommended 10:1 stock split that got approved along with record date for stock split on 27th September 2022.

After the spread of this stock split news, the AMC share attracted attention of stock market bulls leading to spurt in trade volume of the stock and sharp upside movement. The stock has been hitting upper circuit for last 5 straight sessions whereas as it hit upper circuit on 6 out of 7 straight session. It missed to hit upper circuit on Thursday last week.

Greencrest Financial Services share price history

In year-to-date (YTD) time, Greencrest Financial Services share price has doubled shareholders money in 2022. It has surged from around ₹7 to ₹7.17 apiece levels, ascending to the tune of 150 per cent in this year.

About Greencrest Financial Services Ltd

The AMC company is listed on BSE (Bombay Stock Exchange) and CSE (Calcutta Stock Exchange). As per the information available on the website of the company, it was incorporated in February 1993 as Marigold Glass Industries Limited. IT changed its name to Greencrest Financial Services Limited in May 2013. The company also informs on its website that it is one of the RBI registered non-deposit taking NBFC and is into the business of NBFC activities as well as investing its surplus fund into shares & securities.