After getting the approval of the members, the company will announce the record date for subdivision of equity shares.
The decision was taken at a board meeting on Wednesday and Aditya Vision was briefed on the development after market hours.
On Wednesday, the shares traded at Rs. 93.75 or 2.09% to Rs. 4,572.95 had ended.
On Monday, Aditya Vision’s shares traded at Rs. 4,800 hit a 52-week high. The stock has given a multibagger return of 186% in the last 12 months. In 2024, its return so far is 33%.
According to data available on Trendlyne the counter is currently trading above its 50-day and 200-day Simple Moving Average (SMA) of Rs. 3,686 and Rs. 3,314 is trading above.
This rally has taken the stock into the overbought zone and the RSI is near 73. A number above 70 is considered overbought while a number below 30 is seen as oversold. Another momentum indicator MFI is still in the middle range of 61.
Despite the strong rally, the stock has managed to trade with stability. Its 1-year beta, a measure of its volatility, is 0.4.
The company reported a year-on-year jump in its March quarter net profit from Rs. 6.8 crore against Rs. 7.9 crores. It was down quarter-on-quarter against 22.2 crore, Trendline Data said. The revenue for the March quarter was Rs. 308 crores to Rs. 377.5 crores. In the December quarter, the company’s revenue stood at Rs. 414 crores.
As per the latest corporate shareholdings filed, Ashish Kacholia publicly held Rs. Holds 46 shares with a net worth of over. 3,238.4 crores.
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