Multibagger stock Elitecon International to trade ex-split on Wednesday. Do you own?
Live Events
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
The shares of multibagger stock Elitecon International , having given 390% returns in the current year so far, will start trading on an ex-split basis from Wednesday, June 25, as the company had determined the same as the record date for its 1:10 stock split.Since a T+1 settlement cycle is followed in the Indian financial system, the participants who buy the stock of the company by the end of Tuesday's trading session will only be eligible for the benefit of the stock split.'Wednesday, June 25, 2025 (has been set as the record date for) Determining the eligibility of shareholders of the Company for Subdivision/split of existing Equity Shares of the Company from 1 (one) Equity Share having face value of Rs.10/- (Rupees Ten only) each fully paid-up into 10 (Ten) Equity Shares having face value of Re. 1/- (Rupee One only) each fully paid-up,' the company said in a previous filing to the stock exchanges.A 1:10 stock split refers to a corporate action in which each existing share of a company is divided into ten new shares. This means that shareholders will now hold ten times the number of shares they previously owned, but the overall value of their investment remains unchanged.For example, if an investor held 1 share priced at Rs 1,000 before the split, they would receive 10 shares priced at Rs 100 each after the split. The total value of their holding would still be Rs 1,000, as the split does not affect the company's overall market capitalization.Stock splits are typically carried out to improve liquidity and make the stock more affordable for retail investors. By lowering the per-share price, companies can attract a broader base of investors and increase trading activity in their stock.On Monday, the shares of Elitecon International closed 3.2% higher at Rs 509.50 on the BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
5 minutes ago
- Business Standard
Mukand Ltd leads gainers in 'B' group
Foods & Inns Ltd, Enviro Infra Engineers Ltd, Tamil Nadu Telecommunications Ltd and Parsvnath Developers Ltd are among the other gainers in the BSE's 'B' group today, 24 June 2025. Foods & Inns Ltd, Enviro Infra Engineers Ltd, Tamil Nadu Telecommunications Ltd and Parsvnath Developers Ltd are among the other gainers in the BSE's 'B' group today, 24 June 2025. Mukand Ltd surged 14.68% to Rs 131.25 at 12:01 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 99284 shares were traded on the counter so far as against the average daily volumes of 11192 shares in the past one month. Foods & Inns Ltd soared 14.32% to Rs 117.69. The stock was the second biggest gainer in 'B' group. On the BSE, 2.7 lakh shares were traded on the counter so far as against the average daily volumes of 24226 shares in the past one month. Enviro Infra Engineers Ltd spiked 12.67% to Rs 238.25. The stock was the third biggest gainer in 'B' group. On the BSE, 23.29 lakh shares were traded on the counter so far as against the average daily volumes of 3.03 lakh shares in the past one month. Tamil Nadu Telecommunications Ltd exploded 11.49% to Rs 13.29. The stock was the fourth biggest gainer in 'B' group. On the BSE, 1.53 lakh shares were traded on the counter so far as against the average daily volumes of 19387 shares in the past one month. Parsvnath Developers Ltd spurt 10.79% to Rs 19.81. The stock was the fifth biggest gainer in 'B' group. On the BSE, 1.99 lakh shares were traded on the counter so far as against the average daily volumes of 3.77 lakh shares in the past one month.
NDTV
6 minutes ago
- NDTV
Adani Group's Revenue Goes Up By 7%, Gautam Adani Announces Big Capex Plan
New Delhi: The Adani Group reported a 7% growth in consolidated revenues for the financial year ending March 2025. Chairman Gautam Adani outlined an ambitious investment roadmap of $15-20 billion annually over the next five years. Speaking at the group's Annual General Meeting (AGM) 2025, Mr Adani described the planned capital expenditure as a 'record-breaking move' aimed at building India's infrastructure and supporting long-term national development. 'Our objective is to create new possibilities, serve our nation's destiny and build valuation, brick by brick. These are not just investments in our group, but investments in the possibilities for doing our part to build India's infrastructure,' Mr Adani said. During FY25, the group posted total revenues of Rs 2,71,664 crore and an adjusted EBITDA of Rs 89,806 crore. The net debt-to-EBITDA ratio remained stable at 2.6x, reflecting a healthy financial position, Mr Adani said. The Chairman also highlighted the major achievements reported across the group companies. Adani Power generated over 100 billion units of electricity during the year, a milestone not matched by any private sector player in the country, Mr Adani said. The company is heading towards a 31-GW power generation capacity target by 2030. Adani Green Energy is building 'the world's largest renewable energy park' in Khavda, Gujarat, which is so vast that it is visible from space, the business tycoon outlined. The company is aiming for 50 GW of renewable capacity by 2030 and expects to reach 100 GW when including thermal and pumped hydro capacities. Adani Energy Solutions secured transmission orders worth nearly Rs 44,000 crore, while Adani New Industries continues to scale up production of solar modules and electrolysers. By the next financial year, it expects to commission a 10-GW integrated solar module manufacturing facility. Adani Ports recorded a throughput of 450 million metric tonnes of cargo — the highest ever for the group. On the aviation front, Adani Airports handled 94 million passengers during the year. It also conducted a successful test flight at the greenfield Navi Mumbai Airport, which is set to open later this year. With a planned capacity of 90 million passengers annually, it is expected to secure a 35% share of India's airport passenger traffic. In the cement sector, Gautam Adani said that the group crossed the 100-MTPA mark, achieving 72% of its FY28 target to double its capacity to 140 MTPA, following the acquisition of Holcim's India operations. Other milestones included the deployment of Adani Defence drones in Operation Sindoor and the growth of Adani Total Gas, which now serves one million PNG customers and operates 3,400 EV charging stations across 22 states. Describing the Dharavi redevelopment initiative as the group's most transformative project, Mr Adani said over a million residents would benefit from it. As part of its community outreach efforts, the Adani Group collaborated with ISKCON to launch the Mahaprasad Seva during the Maha Kumbh 2025, providing free meals to lakhs of devotees. Gautam Adani also acknowledged India's strong economic performance in a challenging global environment. He said that the economy outperformed other major countries, attributing this progress to the combined efforts of the Central and state governments.
Economic Times
14 minutes ago
- Economic Times
HDB Financial IPO hits Street tomorrow, shares trade at 10% GMP. Check all details
HDB Financial Services, a subsidiary of HDFC Bank, is launching its IPO on June 25. The IPO aims to raise Rs 12,500 crore. The price is fixed between Rs 700 and Rs 740 per share. SBI Securities suggests subscribing, citing strong fundamentals. The company is India's 7th largest retail-focused NBFC. The shares will be listed on NSE and BSE. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Enterprise Lending Asset Finance Consumer Finance The much-anticipated initial public offering (IPO) of HDB Financial Services , a non-banking financial arm of HDFC Bank , is set to open for subscription on June 25. Ahead of the launch, the stock is commanding a grey market premium (GMP) of Rs 74-75, or around 10% over the upper price IPO details were officially announced, HDB Financial shares were trading in the unlisted market between Rs 1,200 and Rs 1,350, which was nearly 70–80% higher than the IPO's upper price band of Rs 740 per market enthusiasm has moderated following the pricing the upper end of the price band, the IPO values the company at 3.72x its FY24 book value, putting it in line with listed industry peers such as Bajaj Finance and Shriram Finance. Market watchers say this points to a more conservative and rational pricing approach than the premiums seen earlier in grey market HDB Financial Services IPO is set to raise Rs 12,500 crore, which includes a fresh issue of Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by existing shareholders. The price band for the issue is fixed between Rs 700 and Rs 740 per share, with a face value of Rs 10. Investors can bid for a minimum of 20 shares and in multiples issue has reserved Rs 20 crore worth of shares for employees and up to Rs 1,250 crore for existing shareholders. Based on the price band, the post-issue market capitalization is expected to be in the range of Rs 58,205 crore to Rs 61,388 crore. The shares will be listed on both the NSE and BSE. The IPO is being managed by a consortium of 13 book-running lead managers (BRLMs), which includes Goldman Sachs, Morgan Stanley, HSBC, Motilal Oswal, JM Financial , and house SBI Securities has given a 'Subscribe' rating to the IPO, citing strong fundamentals and backing by a trusted promoter to the brokerage, the company is valued at a FY25 P/B of 3.2x to 3.4x post-issue at the lower and upper price bands, respectively. It praised HDB's strong brand, governance standards, risk management framework, and high credit ratings, noting that it is one of the largest NBFCs serving the second-largest customer franchise in the Securities believes HDB Financial is well-positioned to post robust growth in the coming years, alongside improving asset Financial Services, incorporated in 2007 as a subsidiary of HDFC Bank , is today India's 7th largest retail-focused NBFC, with a gross loan book of Rs 90,220 crore as of March 31, 2024. The company is classified by the RBI as an Upper Layer NBFC (NBFC-UL).It operates across three core lending verticals:Despite its lineage, HDB Financial has built an operationally independent structure, with dedicated sourcing, underwriting, and risk teams, separate from HDFC Bank.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
