Multibagger Stock : What return do you expect from your investment? Maybe 20%, 30% or 50%. You may even want to see your investment double or triple. But there are many other huge possibilities in the stock market. Many stocks here have given returns of 100 times or more. Today we are going to tell you about a multibagger stock which increased investors' money 16 times in 1 year. Now this stock is going to split. This is a share of Diamond Power Infrastructure Company. Let us know in detail.
Price reached Rs 85 to Rs 1400
Diamond Power Infrastructure does the business of manufacturing power cables. A few years ago it was a penny stock and the share price was very low. Then its price kept increasing and the people who invested money became rich. The shares of this company closed at Rs 1439.95 in the last trading session. 52 week high of this share is Rs 1935.80. Whereas, 52 week low is Rs 85.50. At present the market cap of the company is Rs 7,588.12 crore.
Share will be divided into 10 pieces
Diamond Power Infrastructure has announced a record date for its share split. In the information given to the stock exchanges, the company said that it has fixed December 3, 2024 as the record date for the stock split. This means that those who hold shares of the company till this date will get the benefit of the stock split. The company is going to divide its Rs 10 face value stock into 10 shares of Re 1 face value. That means in stock split there will be 10 pieces of one share. The share price will be divided in the same proportion.
Why do companies split stocks?
When the price of a stock rises too high, it becomes out of reach of small investors. In such a situation, the company splits the share by reducing its face value. In a stock split, as the share is broken, its value also gets divided into pieces. This makes the share cheaper and purchasing of it increases.
Image Credit: India-Tv.