Last chance to buy today ahead of record date! BN Agrochem announces split, stock delivers 28% return in 2 weeks

Detailed summary

BN Agrochem shares were in focus ahead of the November 16 record date for a 1:10 stock split. Under the T+1 settlement cycle, November 13 was the final day to buy shares and qualify. The stock hit its sixth consecutive upper circuit, despite steep declines over the past year.

Last chance to buy today: Shares of BN Agrochem Limited will remain in focus during Friday’s trading session ahead of record date for stock split. The Indian agro-enterprise has announced stock split in the ratio 1:10 with record date falling next week.

Shares of BN Agrochem have seen sharp rally over the past few weeks as the stock has hit back-to-back upper circuits over the last six trading sessions. For investors who closely track the stock split corporate action, here are all the details to know.

The board of directors of BN Agrochem has fixed Monday, November 16, as the record date to determine the eligibility of shareholders for the stock split corporate action.

As the Indian stock market follows the T+1 settlement cycle, a trade is settled one working day after the transaction. Hence, Friday, November 13, effectively became the last day for investors to buy BN Agrochem stock and qualify for the corporate action.

The board of directors has approved stock split, ie “subdivision of existing 1 fully paid-up equity share of face value ₹10/- each into 10 fully paid-up equity shares of face value Re 1). This means that shareholders will receive nine additional shares of Re 1 face value each for every existing share held in the company.

The stock closed 4.98% higher at upper circuit of ₹152.85 per share on BSE with a market capitalisation of ₹1,494.46 crore on BSE on Thursday. Its share price value has touched back-to-back upper circuit over the past six trading sessions.

Shares of BN Agrochem have delivered 27.48% return over the past one week and around 28.23% return over the last two weeks. The recent rally in the stock coincides with the stock split announcement, following a period of subdued performance ahead of the corporate action.

The company’s share price value has declined 40% over the last three months, 46% over the last six months. The stock has declined around 59.65% over last one year.

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