New Delhi. Multibagger share of the stock market, Multi Commodity Exchange of India (MCX Share) has announced stock split for the first time. The special thing is that the division of shares will be in the ratio of 1:5 i.e. for every share, you will get 5 stocks. The company has fixed the record date to determine the eligibility of shareholders for this corporate action.
After the announcement of stock split, MCX shares showed a slight decline in early morning trading on December 18, but are now trading strongly at Rs 1033.
Announcement after market close
After the stock market closed on December 17, MCX announced the record date of stock split. In a filing to the stock exchange, MCX announced that it has set January 2 as the record date for the stock split.
This came after the company had announced in September that its shareholders had approved the company's plan under which each share of Rs 10 face value would be divided into 5 equity shares of Rs 2 face value each.
How many new shares of MCX will I get?
If a shareholder holds 10 shares of MCX, each share worth Rs 1000, then after the stock split he will have 50 shares of the company, each share worth Rs 200. However, even after the stock split, the total value of his holding will remain only Rs 1,000.
How much return have MCX shares given?
MCX shares are multibagger stocks, which have given almost 500% returns in the last 5 years. At the same time, this year so far this stock has increased by 60 percent and in the last 6 months it has increased by 26 percent.
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(Disclaimer: The information given here regarding shares is not an investment opinion. Since investing in the stock market is subject to market risks, please consult a certified investment advisor before investing.)
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