Upcoming Corporate Actions: 2 Multibagger Stocks Likely to Be in Focus Monday

On Monday, the market will likely focus on Star Housing Finance Ltd. and Maharashtra Seamless Ltd. since the board meetings of these two companies will take place tomorrow, October 17, in order to finalize corporate actions such as free shares and stock splits. A stock split divides the shares of a company into additional shares based on a ratio, which decreases the par value and increases the number of shares available without changing the market capitalization, while free shares are shares additional fully paid-up issued by a company to its existing shareholders.

Star Housing Finance Limited

The company said in a stock market filing that “We would like to inform you that under Regulation 29 of the Securities and Exchange Board of India [Listing Obligations and Disclosure Requirements) Regulations,2015, as amended from time to time, a Meeting of the Board of Directors of the Company will be held on Monday, 17th October,2022, through video conferencing inter alia to consider and approve the Un-audited Financial Results of the Company for the Quarter and Half Year ended 30th September,2022. Please be informed that the Board of Directors of the Company will also consider a proposal for the below mentioned items at the said meeting: 1. lssue of fully-paid Bonus Equity Shares to the Shareholders of the Company and/or ‘2. Sub-division of Equity Shares of the Company; 3. Any other business with the permission of Chair.”

On Friday, the shares of Star Housing Finance Ltd closed on Friday at 200.50 apiece, up by 0.80% from the previous close of 198.90. In the last 1 year, the stock has given a multibagger return of 100.70% and on a YTD basis, the stock has given a multibagger return of 130.59%.

Maharashtra Seamless Limited

The company has said in a stock exchange filing that “Pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other relevant provisions, we have to inform that the Board of Directors at its meeting scheduled to be held on Monday, 17th October, 2022 will also discuss and consider inter-alia, a) Issue of Bonus Shares b) Sub division/Split of the Company’s existing equity shares of Rs. 5/- each. Further, in continuation to our letter dated 28th September, 2022 regarding intimation of closure of Trading Window, we would like to confirm that Trading Window for trading in securities of the Company will remain closed till 19th October, 2022.”

Friday saw a closing price for Maharashtra Seamless Limited shares of Rs. 868.05 a piece, a drop of 0.18% from the previous close of Rs. 869.65. The stock has produced a multibagger return of 145.41% over the past three years, and it has appreciated by 68.05% during the past year. The stock has gained 67.35% YTD so far in 2022.

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