Multibagger metal stock fixes record date for stock split: Check details

Ashnisha Industries Ltd is a small-cap company in the metals sector with a market cap of ₹5 crore. The company's primary business activity is manufacturing and trading steel and steel alloys, but it also engages in trading and investment service. In a meeting conducted on Friday, June 3rd, the company's Board of Directors set Thursday, June 23rd, 2022 as the date for the stock split.

The company has said in BSE exchange filing that “This is to inform you that the Board of Directors of the Company in its meeting held today i.e. on Friday, 03rd June, 2022 from 3:30 P.M. to 4:00 P.M. at the Registered Office of the Company inter alia, has approved and fixed Thursday, 23rd June, 2022 as the Record Date for determining the eligibility of Shareholders, with regard to the sub-division of 1 (one) Equity share of face value of Rs.10/- each fully paid-up to 10 (ten) Equity shares of face value of Rs. 1/- each fully paid-up, in terms of Regulation 42(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and as approved by the Shareholders at their meeting held on Wednesday, 25th May, 2022.”

Due to Graded Surveillance Measures (GSM), trading in the shares of Ashnisha Industries Ltd is now banned. However, in 1 year, the stock has risen from ₹4.75 on 4th June 2021 to ₹18.35 as of 30 May 2022, 1:15 pm IST, a remarkable multibagger return of 286.32 per cent. The one-year multibagger return of 286.32 per cent exceeded the Sensex by 279.28 per cent, despite the Sensex’s 7.04 per cent increase in that period. 

On a year-to-date (YTD) basis, the stock has risen from ₹9.80 on January 3rd, 2022 to the last traded price, representing an 87.24 per cent gain so far in 2022. Ashnisha Industries' stock has risen from ₹8.07 as of December 8, 2021 to the last traded price of ₹18.35, representing a multibagger return of 127.39 per cent. However, the stock has dropped -4.92 per cent in the past month, and Ashnisha Industries is now trading above the 5 days, 20 day, 50 day, 100 day, and 200-day moving averages at the last traded price. The stock reached a 52-week high of ₹20.30 on April 25, 2022, and a 52-week low of ₹4.35 on June 8, 2021, indicating that when it opens for trading, it would be available at a discount of almost 9% from its 52-week-high.