Bharat Dynamics shares zoom 17% to new all-time high after 1:2 stock split

BDL had informed about its plans of splitting the stock to the exchanges towards the end of April month.

“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 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,” BDL said in a filing to the exchanges.

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The company had 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.

The stock price of has increased fourfold in the last one year while in the last 6 months, it has gained 176.5%.

In the current calendar year too, the stock has impressively surged by 86% on charts.

Technically, too, the PSU stock is placed well above all the significant and 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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