AMC stock that rallied 150% this year announces 10:1 stock split. Details here
Stock split 2022: The board of directors of asset management firm Greencrest Financial Services has announced the subdivision of shares in the ratio of 10:1.
This implies that one share of stock with a face value of 10 will now be divided into 10 shares with a face value of 1 rupee each equity share. The business board set October 12, 2022, as the record date for stock splits as well.
“Members are hereby advised that the Company has designated 12th October 2022 as a record date for the purpose of Sub-division of Face Value of Equity Shares,”
the AMC company’s statement announcing the stock split of Greencrest Financial Services to the stock market exchange reads.
The AMC Company informed Indian bourses of the board of directors’ recommendation for a 10:1 stock split at its meeting on August 30, 2022, and the record date for the stock split was set for September 27, 2022.
Following the news of the stock split, bulls in the stock market became interested in the AMC share, which spiked the company’s trading volume and caused a strong upward trend.
The stock has been reaching the upper circuit for the last five straight sessions, as opposed to six out of the seven straight sessions. On Thursday of last week, the top circuit was missed.
Greencrest Financial Services share price history
Greencrest Financial Services’ share price has quadrupled investors’ money year-to-date (YTD) in 2022. It has increased by 150 percent this year, from values around $7 to $7.17 per piece.
About Greencrest Financial Services Ltd
The AMC firm is listed on both the CSE and the BSE (Bombay Stock Exchange) (Calcutta Stock Exchange). According to material on the company’s website, Marigold Glass Industries Limited was the name under which it was founded in February 1993.
In May 2013, it adopted the Greencrest Financial Services Limited moniker. The company further discloses on its website that it is one of the non-deposit taking NBFCs registered with the RBI, engages in NBFC operations, and invests its excess funds in shares and securities.