Regis Industries stock hits upper circuit of 20%, here's why

Shares of Regis Industries rose 20% in early deals on Monday after the board of the firm announced a stock split in the ratio of 1:10. Regis Industries stock rose 20% to Rs 181.10 against the previous close of Rs 150.95 on BSE. Market cap of the firm rose to Rs 297.52 crore. Regis Industries stock has climbed 86% in a year and gained 936% in two years. The multibagger stock clocked a turnover of Rs 34.15 crore as 0.22 lakh shares changed hands on BSE in today’s session. Regis Industries shares fell to their 52-week low of Rs 86 on November 20, 2023 and rose to a 52 week high of Rs 204.15 on October 21, 2024. Regis Industries shares have a beta of zero, indicating very low volatility in a year. 

Shares of Regis Industries are trading higher than their 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. 

"We hereby inform you that the Board of Directors of the Company, in their meeting held on today i.e. Monday 18th November 2024 at the Registered Office of the Company and transacted the following major businesses:

1.) Considered & approved the proposal of sub- division of Company's 1 (one) equity shares of face value
of Rs. 10/- each into 10 (ten) equity shares of face value of Rs 1/-each subject to approval by
shareholders. Record date for Split/Sub-division of Nominal Value will be intimated in due course
subject to compliance of necessary laws.

2.) Considered & approved alteration of Capital Clause (Clause V) in the Memorandum of Association of
the Company, subject to the approval by shareholders," said the firm in a communication to bourses. 

Regis Industries is working as NBFC company and mainly deals in investment in shares & securities.