The company has fixed February 17 as the record date for determining the eligibility of shareholders for the proposed stock split.
Companies usually announce stock split to increase the liquidity of the stock in the market. Investors who are holding the stock until the record date will receive the new shares in demat account and the stock price will be adjusted according to the split ratio.
KCD Industries India engages in the commercial services business and mainly operates in the real estate and infrastructure sectors. The company offers opportunities to customers as per their property requirements. Its land development program includes planners, engineers, architects, legal & financial advisors who plan and come up with cost-effective solutions before customers associate with any of its properties.
According to the latest shareholding data available with the exchanges, promoters own about 48% stake in the company, while the rest lies with the public shareholders.
The company has more than doubled investors’ wealth in the last one year, rising 159.11%, while in the last five years, the stock has delivered over 700% returns. So far this year, the stock is up 20%.
KCD Industries India has reported a net profit of Rs 71 lakh for the December quarter, compared with just Rs 2 lakh reported in the corresponding quarter of last year.The company’s total income, meanwhile, surged to Rs 90 lakh for the reporting quarter as against Rs 3 lakh clocked in the same quarter of last year.
Technically, the stock is trading above 8 out of 8 simple moving averages (SMAs), according to data sourced from Trendlyne.
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