Multibagger stock: Starlineps Enterprises Ltd witnessed strong buying in early morning deals today as the small-cap stock has declared a board meeting date to consider a stock split and issuance of bonus shares. Starlineps Enterprises Ltd’s share price today opened with an upside gap at ₹151.20 apiece on the BSE and touched an intraday high of ₹162.05 apiece within a few minutes of the stock market opening bell on Thursday. While touching the intraday high, the multibagger stock touched 20 percent upper circuit and climbed to its new lifetime high. The multibagger stock that has delivered over 450 percent returns to its shareholders in the last five years has scheduled a board meeting date on 8th August 2024 to consider and approve the stock split and bonus share proposal.
Starlineps Enterprises Ltd news
The small-cap stock informed the Indian stock market exchange about the Proposal, saying, “We hereby inform the Stock Exchange that Meeting of the Board of Directors of the Company is scheduled to be held on Thursday, the 08th August 2024 at 03.30 p.m. at the Registered Office of the Company at Shop – F/1, 1st floor, Athwa Ark Shopping Centre, Opp. Yatim Khana, Athwa Gate, Surat395001, Gujarat, inter alia, to consider the following business: 1] Proposal for sub-division/split of Equity Shares of the Company having a face value of Rs. 5/- each in such manner as the Board may determine. This is expected to increase the liquidity of the shares and make them more affordable for small investors. 2] Proposal for issuance of Bonus shares to the Equity shareholders of the Company. Issuing bonus shares will reward existing shareholders, increase the share capital base, and enhance the stock’s liquidity.”
Starlineps Enterprises Ltd stock split history
If approved, this would be the second occasion for the small-cap multibagger stock to trade ex-split. The multibagger stock traded ex-split on 22nd December 2020 for stock subdivision in a 1:2 ratio.
Starlineps Enterprises Ltd bonus share history
If the bonus share proposal is approved at the 8th August 2024 meeting, this would be the first time the company will reward its shareholders with free bonus shares.
The small-cap stock has a market cap of ₹700 crore and is available for trade on BSE only. Its current trade volume is 3.69 lakh, and around three and a half hours of trade are still left on Thursday. Its 52-week high is ₹162.05 apiece, which it made today, while its 52-week low is ₹83.30 per share.
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