1:10 stock split by railway company: FIRST-EVER! 1232% return in 2 years – Record date, other details

1:10 stock split by railway company: In its first-ever corporate action, a small cap railway company has announced a stock split, meaning its shares are set to become cheaper. Notably, the company’s stock has zoomed over a good 1000 per cent in the last two years, multiplying investors’ wealth multifold.

K&R Rail Engineering on Saturday midnight announced its quarterly results for the April-June 2024 quarter, in which it said that the board has given its approval to sub-divide the stock for the first time.

1:10 Stock Split by Railway Company

The company’s board has given its nod to the sub-division/ stock split of existing 1 equity share of face value of Rs 10 each fully paid up into 10 equity shares of Re 1 each fully paid up. It noted that the decision has been taken to enhance the liquidity of the company’s equity shares and encourage the participation of small investors by making it more affordable.

K&R Rail Engineering Stock Split 2024

One stock of the railway company will be divided into 10, meaning K&R Rail Engineering shares will become 10 times cheaper. The counter closed at Rs 491.60 apiece on BSE on Friday. The split will be completed approximately 3 months from the date of receipt of approval of the shareholders of the company.

K&R Rail Engineering Stock Split 2024 Record Date

It is the date fixed to determine who will be eligible to participate in the said stock split. K&R Rail Engineering informed that the Record Date for the purpose of subdivision of equity shares will be intimated to the exchanges subsequently, after the approval of the resolution for sub-division by the shareholders at EGM.

K&R Rail Engineering Share Price History

The small cap company’s shares have delivered multibagger returns in the past. Having a market cap of Rs 1,040.77 crore, K&R Rail Engineering is a leading railway construction company which builds high quality rail infrastructure. In the last two years, its stock has zoomed a whopping 1232 per cent while gained 1500 per cent in three years.