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Wednesday, September 28, 2022

Board of multibagger infra stock to consider stock split next week

With a market valuation of Rs. 673.03 crore, Sanmit Infra Ltd. is a small-cap company that operates in the real estate industry. The organization has built first-real estate projects in Mumbai and other Maharashtra cities. The company is involved in the disposal of biomedical waste, the supply of petroleum products, and the construction of real estate projects for better economic infrastructure.

The company has said today in an exchange filing that “M/s. Sanmit Infra Limited has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/07/2022, inter alia, to consider and approve in terms of Regulation 29 & 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday July 28, 2022 at the registered office of the company at 12:30 PM, inter alia to recommend the proposal for sub-division of Company’s equity shares of face value of Rs. 10/- each and matters related thereto, subject to the approval of, shareholders and such authorities as may be required.”

On Friday, the stock closed at 425.95 apiece level on the BSE, down by 0.61% from its previous close of 428.55. The stock price rose from 141.50 on July 26, 2021 to the current price in the past year, representing a multibagger return of 201.02 per cent. The stock has gained 34.48 per cent over the past six months and 42.41 per cent year to date in 2022. The stock has gained 2.70 per cent over the last month, but over the past five trading days, it has plummeted 1.63 per cent. On the BSE, the stock reached a 52-week high of Rs. 462.90 on July 1, 2022, and a 52-week low of Rs. 137.00 on July 29, 2021. This means that the stock is now trading 7.98% below its 52-week high and 210.91% above its 52-week low. The number of shares traded on Friday was 10,178.

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