BCL Industries’ shares saw a 5 percent increase to Rs 53.65 on Friday, valuing the company at over Rs 1,350 crore.
On Friday, October 27, BCL Industries’ shares were traded ex-split. Earlier this year, the company announced the split of its equity shares in a 1:10 ratio, which divided each share of the company, which had a face value of Rs. 10, into 10 equity shares with a newly revised value of Re. 1.
The board of directors of BCL Industries established Friday, October 27, as the record date for the subdivision of the equity shares, via an exchange filing, subsequent to the approval granted by shareholders on October 4 of this month. In September, the board authorized the split following the approval of the shareholders earlier this month.
After its shares rose by more than 5% to Rs 53.65 on an adjusted basis on Friday, BCL Industries’ market capitalization surpassed Rs 1,350 crore. The share ended the previous Thursday’s trading session at Rs 51.
The last 3 months have seen a 20%+ increase in BCL Industries’ shares, & over the last six months, the stock has increased by 30%. After rising roughly 95% from its adjusted 52-week low of Rs. 27.62 in November 2022, the stock has gained roughly 65% over the past year.
BCL Industries’ board of directors declared approximately a month ago that it would be concentrating less on the edible oil division. The board resolved to close the Bathinda edible oil unit and revoke the lease for the Jalalabad unit. This business will move some of its operations to the Bathinda distillery complex.
Among other industries, BCL Industries manufactures and develops goods for ethanol, oils, distillery goods, and real estate. It is the only company in South Asia and India with a forward-and backward-integrated distillery ethanol plant.
