Capri Global Shares Hit Record After Turning Ex-Date For Split, Bonus Issue
The company's board announced a bonus issue in the ratio of 1:1 and a stock split from Rs 2 to Re 1 per share.
Shares of Capri Global Capital Ltd. hit a 20% upper circuit and an all-time high on Tuesday after the stock turned ex-date for stock split and bonus issue.
The company's board on Jan. 27 announced a bonus issue in the ratio of 1:1 and a stock split from Rs 2 to Rs 1 per share, according to an exchange filing.
CGCL's stock rose as much as 20% during the day to Rs 289.25 apiece on the NSE, compared to a 0.29% decline in the benchmark Nifty 50 as of 12:15 p.m.
The share price has risen 67% in the past 12 months. The total traded volume so far in the day stood at 10 times its 30-day average. The relative strength index was at 75.7.
An analyst tracking the company has a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 184.4%.