This multibagger specialty chemical stock announces stock split: Do you own?

With a market worth of Rs. 762.98 crore, Nikhil Adhesives Ltd. is a small-cap company that operates in the chemical industry. The company manufactures, markets, and exports various kinds of polymer emulsions that are employed in diverse applications. The firm was founded in 1986, and the company currently has five production facilities in the following locations: Dahanu (Maharashtra), Silvassa (Dadra Nagar Haveli), Dahej (Gujarat), Tumkur (Karnataka), and Mehatpur (Himachal Pradesh). Currently, the firm exports its goods to the Middle East, Africa, and Asia and has a production capacity of 120,000T p.a.

Today the Board of Directors of the company said in a regulatory filing that “We wish to inform you that pursuant to Regulation 42 of the SEBI (LODR) Regulations, 2015, the Board of Directors of the Company passed the Resolution through Circular Resolution on Today, 22 September, 2022, and fixed the ‘Record Date’ on ‘Thursday, 13th October, 2022’ for the purpose of determining the Members, eligible for Sub-Division of Equity Shares from the face value of Rs. 10 per Share to the face value of Rs. 1 per Share.”

Today's closing price for Nikhil Adhesives Ltd shares was ₹1,667.70 a piece, down 1.32% from yesterday's close of ₹1,689.95. In trade today, the total volume recorded by the stock was 5,499 shares compared to the 20-Day average volume of 15,468 shares. From ₹3.55 on July 18, 1997, when the stock price was at its lowest point, it has risen sharply to the current market price, which represents a multibagger return and an all-time high of 46,877.46%. The stock price climbed from ₹132.85 on September 29, 2017, to the current market price during the past five years, resulting in a multibagger return of 1,155.33% and an approximate CAGR of 66.06%. 

The stock has produced a multibagger return of 124.35% over the last year, and so far in 2022, it has produced a multibagger return of 110.99% on a YTD basis. The stock has produced a multibagger return of 131.05% during the past six months, and it has climbed by 49.72% over the past month. The stock had touched a 52-week-high of ₹1,847.95 on (15/09/2022) and a 52-week-low of ₹603.60 on (07/03/2022), indicating that at the current market price the stock is trading 9.75% below the high and 176.29% above the low.