During Wednesday’s trading session, the shares of one of India’s premier financial institutions hit a 5 percent circuit and reached a new 52-week high at Rs. 1,926.65 on BSE, after the company fixed record date for a stock split in a 1:10 ratio.
With a market cap of Rs. 2,500.8 crores, the shares of Systematix Corporate Services Limited opened in the green at Rs. 1,836, compared to its previous closing price of Rs. 1,834.95.
What’s the news:
According to the latest regulatory filings with the BSE, Systematix Corporate Services Limited has fixed Tuesday, November 5th, as the “Record Date” for the purpose of sub-division/split of equity shares.
On 9th August, the Board of the company approved bonus shares in the ratio of 1:10, meaning that every 1 equity share of the company having a face value of Rs. 10 each will be divided into 10 equity shares having a face value of Re. 1 each.
The Board has considered and approved the stock split in order to improve the liquidity of the company’s Equity Share and to make it more affordable for small investors and also to a broad base of small investors.
Financials:
The company reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 66.5 percent, rising from Rs. 17.6 crores in Q1 FY24 to Rs. 29.3 crores in Q1 FY25.
During the same period, the company’s net profit declined from Rs. 4.4 crores to Rs. 1.7 crores, representing a decrease of around 61.4 percent YoY.
Stock Performance:
The stock has delivered multibagger returns of nearly 387.8 percent in one year, as well as around 147 percent returns in the last six months. So far in 2024, the shares of Systematix Corporate Services have given multibagger returns of about 196 percent.
About the company:
Systematix Corporate Services Limited is registered as a category I Merchant banker with the Securities and Exchange Board of India (SEBI) and is primarily engaged in Merchant Banking Activities.
The company offers a wide range of products across investment banking, merchant banking, broking, wealth management, Portfolio Management Services (PMS), NRI, E-Broking, and depository services.
Additionally, it is engaged in providing services in equity, derivative, PMS, commodity, currency derivative, IPO, mutual fund, and debt product (primary) markets.
Written by Shivani Singh
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