In an exchange filing dated June 13, the company’s board approved a 10:1 stock split, meaning each share with a face value of Rs 10 will be divided into 10 shares of Re 1 each.
Also Read: These 11 Nifty microcap stocks can rally 55-210% in the next 12 months
The company has fixed June 25, 2025 (Wednesday) as the record date to determine shareholder eligibility for the split.
“…fixed Wednesday, June 25, 2025 as the Record date for the purpose of determining the entitlement of Equity Shareholders for Subdivision/split existing Equity shares of the Company from 1 Equity share having face value of Rs 10 each fully paid-up, into 10 Equity Shares having face value of Rs 1 each fully paid-up,” the company said in its filing.
Live Events
Also Read: Swiggy, Radico Khaitan among 7 stocks on which brokerages initiated coverage, see up to 34% upsideA stock split is a corporate action aimed at making shares more affordable for retail investors by reducing the face value, which proportionally lowers the trading price without affecting the overall market capitalization or investor holding.Also Read: KEI Industries, DCB Bank among 10 small-cap stocks analysts expect to gain up to 75%
On the technical front, the stock’s Relative Strength Index (RSI) stands at 62.1, indicating neutral to moderately bullish momentum. (RSI above 70 signals overbought conditions, while below 30 indicates oversold.) The MACD is at 49 and remains above both its centerline and signal line, suggesting a bullish bias.
The stock is trading above key medium- to long-term moving averages (20-day to 150-day SMAs), indicating a positive trend, but remains below the short-term 5-day and 10-day SMAs.
Elitecon International, which currently commands a market capitalisation of Rs 8,358 crore, ended Friday’s session (June 13) lower at Rs 522.90 on the NSE.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
