Arihant Capital Markets Board of Directors Approves 5-for-1 Stock Split

The Arihant Capital Markets Board of Directors approved today, March 3, 2022, a 5-for-1 stock split.

The board of the company has proposed to divide the capital shares with a par value of Rs 5 each into capital shares with a par value of Rs 1 each (5:1) (i.e. say the sub-division of an existing capital share of a par value of Rs 5 each fully paid into five shares of Re 1 each fully paid).

The split is being made to encourage broader participation from retail investors by making the shares more affordable to them and improving the liquidity of the company’s shares in stock markets.

The company expects the stock split process to be completed within two months from the date of the extraordinary general meeting, which is May 3, 2022.

The Board of Directors of Arihant Capital has also approved an interim dividend of Rs 0.75 per share with a par value of Rs 5 each to the shareholders of the company for the financial year 2021-22 and fixed March 15 2022 the “record date” for the payment of an interim dividend. The dividend will be paid to eligible shareholders/members from March 15, 2022.

Arihant Capital Markets is an equity brokerage service provider in India.

The company’s consolidated net profit increased by 46.53% to Rs 13.10 crore on a 68.17% increase in net sales to Rs 48.23 crore in Q3 December 2021 compared to Q3 December 2020.

The certificate rose by 0.88% to currently trade at Rs 367.50 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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