“Please be informed that a meeting of the board of directors of the company is scheduled to be held on Monday, 31st October, 2022, inter alia,: a) To consider and approve unaudited standalone & consolidated financial results for the second quarter and half year ended 30th September, 2022. b) To consider and approve the proposal to sub-divide/split of the equity shares of the company in such a manner as may be determined by the board of directors and subject to approval of the shareholders and such authorities as may be required,” said the company in a filing with the exchanges on October 18.
Sub-division or stock split in shares is mulled to increase liquidity in them. Also, by way of sub-division, shares of the company are rendered more affordable for investors.
Vishnu Chemicals is a multibagger stock with year-to-date returns of 129% and 3-year returns at an exorbitant 1,476%.
Ahead of the stock split, the stock of Vishnu Chemicals ended 5% upper circuit at Rs 2000.3 per share.
Hyderabad-bade Vishnu Chemicals is a pure play chemical manufacturer that serves companies across industries such as steel, glass, pharmaceutical,
and dyes, leather and allied industries. The company even has its footprint across geographies, including Asia, China, South East Asia, Europe, UK, North, South and Central America, Africa among others.