Alice Blue Home
URL copied to clipboard

Trending News

Penny stock jumps after company to consider stock split

Company has scheduled a Board meeting for January 13, 2025, to discuss a stock split proposal, subject to approvals, including changes to the Memorandum of Association and other business matters.
Penny stock rises as company announces consideration of stock split, fueling investor optimism.
Penny stock rises as company announces consideration of stock split, fueling investor optimism.

Introduction:

Leading company has announced a Board meeting scheduled for January 13, 2025, to discuss a proposal for a stock split. The decision, subject to approvals, includes altering the company’s Memorandum of Association and addressing other business matters.

Alice Blue Image

Also Read: Transformer stock jumps after it reports 21% increase in net profits in Q3; Announces 1:1 bonus issue

Share price movement of Mangalam Global Enterprise:

On January 9, 2025, Mangalam Global Enterprise Ltd opened at ₹29.94, up 2.92% from its previous close of ₹29.09. The stock reached a high of ₹33.00 (13.42%) and a low of ₹29.17. By 11:25 AM, it traded at ₹32.21, a 10.73% increase, with a market cap of ₹530.75 crore.

Mangalam Global to Consider Stock Split:

Mangalam Global Enterprise Limited has announced a Board meeting on January 13, 2025, to consider a proposal for a stock split. The company aims to split existing equity shares of ₹2 each, subject to shareholder and regulatory approvals.

The proposal includes altering the Memorandum of Association of the company to accommodate the stock split, which will be effective once approved. The meeting will also cover other business matters that may arise during the discussions.

In compliance with SEBI regulations, the trading window for designated persons of Mangalam Global Enterprise Limited is currently closed and will remain so until 48 hours after the announcement of the company’s unaudited financial results for Q3 FY2025.

Ace investor holding in Mangalam Global Enterprise:

Sarath Ch.

Sarath Ch. has acquired a 1.69% stake in Mangalam Global Enterprise Ltd, purchasing 2,782,501 shares valued at ₹9.0 crore. This move highlights an investment interest in the company, contributing to its shareholder base.

Stock performance of Mangalam Global Enterprise for Period of 1 week, 6 months and 1 year:

Over the past week, Mangalam Global Enterprise Ltd has seen a decline of 1.60%, with a slight drop of 0.24% over the last six months. However, the stock has surged 43.8% over the past year, showcasing strong long-term growth.

Also Read: NFO: Everything you need to know about Kotak Nifty SmallCap 250 Index Fund

Shareholding pattern of Mangalam Global Enterprise:

All values in %Sep 2024Jun 2024Mar 2024
Promoter72.00%72.00%75.00%
FII0.00%0.00%0.00%
DII0.00%0.00%0%
Public28%28%25.00%
.

Alice Blue Image

About Mangalam Global Enterprise:

Mangalam Global Enterprise Ltd (NSE: MGEL) is a diversified business entity based in Ahmedabad, engaged in manufacturing refined castor oil, castor de-oiled cake, cotton bales, and cotton seeds. The company serves both domestic and international markets.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

Loading
Read More News