Upper circuit today: With 90% rally in six months, this auto stock turned ex-split; check details

Shares of auto component maker Jay Bharat Maruti Ltd turned ex-split today. The stock split’s record date came on a day when it had zoomed 90% in the last six months. Jay Bharat Maruti shares have zoomed 60% this year and risen 42% in the last one year. In the current session, the Jay Bharat Maruti stock hit an upper circuit of 5% at Rs 105.05 today.

Jay Bharat Maruti stock opened higher at Rs 100.25 today against the previous close of Rs 100.05 on BSE. Total 4175 shares of the firm changed hands amounting to a turnover of Rs 4.27 lakh. Market cap of the firm rose to Rs 1137.17 crore on BSE. The stock is neither oversold nor overbought on technical charts with its relative strength index (RSI) at 31.6. It has a high volatility of 1.1 in a year.

Jay Bharat Maruti shares are trading lower than 5 day, 10 day, 20 day, 30 day, 50 day, 100 day but higher than the 150 day and 200 day moving averages.

The auto parts stock hit a 52-week high of Rs 137.70 on July 4, 2023 and a 52-week low of Rs 50 on March 16, 2023.

The sub-division/ split comprises equity shares having face value of Rs. 5 each fully paid-up into equity shares having face value of Rs 2 each fully paid-up, as approved by the equity shareholders in annual general meeting held on September 16, 2023.

“All fractional equity shares resulting from such sub-division/split of existing equity shares shall be disposed off at the market price and the net proceeds (less expenses, if any) will be distributed proportionately, as far as practicable, to the concerned members,” said the company in a communication to bourses.

Jay Bharat Maruti is primarily engaged in the business of manufacturing of components for automobiles for Indian market. It is involved in manufacturing of sheet metal components, rear axle, muffler assemblies, fuel neck and tools and dies for motor vehicles, components and spare parts. The company manufactures auto components and assemblies, such as body-in-white (BIW) parts, exhaust systems, fuel fillers (fuel pipe), and suspension parts for passenger cars.

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