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Shares of Sigachi Industries, a company related to pharmaceuticals industry, also saw a huge jump in the volatile market. Shares of smallcap company Sigachi Industries rose over 10 percent on the Bombay Stock Exchange (BSE) on Tuesday to Rs. 401.95 was reached. Shares of the company also hit a new 52-week high. This rise in the shares of Sigachi Industries is because the company is going to distribute its shares and the company has set its record date.
The company is issuing shares in the ratio of 1:10, the record date is fixed
Sigachi Industries is going to distribute shares in the ratio of 1:10. That is, the company will pay its Rs. 10 shares with a face value of Rs. Dividing into 10 shares each having a face value of 1. After a stock split in the ratio of 1:10, the investors will have 10 times more shares of the company and the share price will decrease accordingly. The board of directors of Sigachi Industries, in its meeting held on September 9, has fixed October 9, 2023 as the record date for the stock split.
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Shares up more than 50% in 6 months
Shares of Sigachi Industries have gained more than 50% in the last 6 months. Shares of the company on BSE on March 13, 2023 at Rs. were at 250.95. Share of Sigachi Industries on September 12, 2023 on BSE at Rs. 401.85 was closed. At the same time, shares of Sigachi Industries are up 39% so far this year. The company’s stock hit a 52-week low of Rs. is 219.80. At the same time, Sigachi Industries has a market cap of around Rs 1146 crore.
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Disclaimer: Information about stock performance is provided here only, not investment advice. Investment in stock market is subject to risk and please consult your advisor before investing.