The record date for the proposed split is fixed as May 4, which will determine the eligibility of shareholders.
“The board has passed the necessary resolution and has fixed the record date on May 4 for the purpose of sub-division of 1 equity share of Rs 10 each into 10 equity shares of Rs 1 each fully paid up, pursuant to the shareholders’ approval received through postal ballot by way of electronic mean,” the company.
Stock split is usually done to increase the liquidity of the stock in the market. On the ex-split date, investors who are holding the stock until the record date will receive the new shares in demat accounts and the stock price will be adjusted according to the split ratio.
The company’s shares have more than doubled investors’ wealth in the last one year period, rising 139%. In the last six months, it has gained 48% and is up nearly 3% so far this year.
Technically, the stock is trading above seven out of eight simple moving averages (SMAs)
For the recent December quarter, Apollo Micro Systems has reported a net profit of Rs 6.6 crore, which is almost double that of Rs 3.3 crore clocked in the year-ago periodRevenue from operations during the quarter rose to Rs 82 crore for the third quarter as against Rs 64 crore in the same period previous year
The smallcap company with a market capitalisation of about Rs 650 crore is currently trading at a PE of 33.46 and has an EPS of 9.36 on a trailing 12-month basis
Apollo Micro Systems (AMS) is in the business of design, development and assembly of custom built electronics and electro-mechanical solutions. The company offers solutions based on state of the art technologies for aerospace, defense and space as primary customers and also caters solutions for railways, automotive and homeland security markets