This multibagger stock fixes record date for stock split: Do you own?

Leading Leasing Finance And Investment Company Ltd is a small cap company having a market cap of ₹73.54 Cr and the company deals in the finance sector. The company falls under the Non-Banking Financial Company (NBFC) industry and it got listed on the BSE on 17-03-2017. For the purpose of a stock split, the Board of Directors of the company have announced the record date which potential investors and existing shareholders need to be aware of.

By informing stock exchanges today, the Board of Directors said “In terms of Regulation 42 (2) of the SEBI Listing Regulations, the Company has fixed Thursday 22nd September 2022 as the 'Record Date' for the purpose of determining the eligibility of Shareholders for the purpose of subdivision /split of every-one fully paid-up Ordinary (equity) share having face value Rs. 10/- (Rupees Ten only) each in the share capital of the Company, into ten (10) fully paid-up Ordinary (equity) shares having face value Re. 1/- (Rupee One only) each, as approved by the shareholders at the 38th Annual General Meeting held on 09th September 2022.”

The shares of Leading Leasing Finance And Investment Company Ltd closed on Friday at ₹137.85 apiece, up by 0.11% from the previous close of ₹137.70. The stock price soared from ₹10.45 on September 29, 2017, to the market price today, representing a multibagger return and an all-time high of 1,219.14% during the last five years. The stock has gained by 55.67% over the past year and by 27.76% over the past three years. The stock has appreciated 51.90% YTD so far in 2022. The stock has climbed 87.68% over the past six months, but it has dropped 7.89% during the past month. As of the quarter that ended in June 2022, the corporation has 100.00% public shareholding. The company's book value per share is Rs. 17.97, translating into a price-to-book value (P/B) ratio of 7.67. At the current market price, the stock can be viewed as being overvalued due to its high P/B when compared to its competitors, including Muthoot Finance, HDFC AMC, Cholamandalam Investment & Finance Company Ltd., Bajaj Holdings, and Bajaj Finserv.