Bharat Dynamics shares zoom 46% in 6 days ahead of proposed 1:2 stock split
Shares of the PSU stock Bharat Dynamics Limited (BDL) have witnessed a remarkable surge, increasing by a little over 46% in the past six days. On Tuesday, the stock rose by 10% on the BSE, reaching a new all-time high of Rs 2,689. This surge in share price comes as the company approaches its record date for a 1:2 stock split, scheduled for May 24th.
of stock Limited (BDL) have surged a little over 46% in the last six days while rising 10% on on Tuesday to a new of Rs 2,689 as the company nears its of the 1:2 on May 24.“Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, the Company has fixed Friday 24 May, 2024 as the Record Date for the purpose of determining the eligibility of shareholders for sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up,” stated the company filing to the exchanges.
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Last week, the company also notified the exchanges that it will be announcing its result for the fourth quarter ended March 2024 on May 31, along with the for FY24, if any.
have given of nearly 145% in the last one year while in the last six months, the stock has gained approximately 130%. In the current calendar year, the stock has gained close to 50% on the charts.
Technically too, the PSU stock is placed well above all the significant and slightly above the 80-level mark on the RSI as per the Trendlyne data.
A level below 30 is considered as an oversold zone, while a level above the 70 mark is considered to be an overbought zone.
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Source: Stocks-Markets-Economic Times
