After 1,351% rally in 1 year, this multibagger smallcap share to turn ex-stock split today

Multibagger Diamond Power Infrastructure Ltd, whose shares have rallied 901 per cent in 2024 so far and 1,351 per cent in the past one year will turn ex-date for stock split on Tuesday. The stock would get split from a face value of Rs 10 each into shares with face value of Re 1 each. Today is also the record date for the purpose of determining the eligibility of Diamond Power shareholders for the purpose of split of face value of equity shares.

A stock split enhances liquidity of the company's equity shares and encourage the participation of retail investors by making equity shares of the company more affordable to invest.

"This is to inform you that Tuesday, 3 December, 2024 has been fixed as the record date to ascertain the eligibility of shareholders for the purpose of sub-division / split of equity share having face value of Rs 10 (rupees ten only) each, fully paid-up into 10 (ten) equity shares having face value of Re 1 (rupee one only) each fully paid-up," Diamond Power Infrastructure  informed investors on November 15.  

Diamond Power Infrastructure is engaged in manufacturing & selling of conductor, cables and transmission towers. Incorporated in 1992, it has its registered office in Vadodara, Gujarat. The stock comes under ASM long term: Stage 4.

The company board recently approved to raise additional capital to the extent of Rs 500 crores through issue of one or more instruments including equity shares, convertible or non-convertible securities of any description or warrants or debt securities, through preferential issue, private placements, rights issue or any other methods or combination, as may be permitted under applicable laws. 

Meanwhile in another development, shares of Wipro Ltd will turn ex-date for bonus issue on Tuesday in the ratio of 1:1. Today would also be the record date for eligible shareholders, who would get Wipro's bonus shares. To recall, The IT giant announced at least three bonus issues before this in the past 15 years. Overall, it declared nine bonus issue till date, as per data compiled with corporate database AceEquity.

The latest bonus issue is Wipro's first since 2019. Wipro declared its previous bonus issue in 2019 in the 1:3 ratio. The stock went ex-bonus on March 6, 2019. Wipro had announced bonus shares in the ratio of 1:1 in 2017. Before that, Wipro announced bonus shares in the ratio of 2:3 in 2010. It announced bonus shares in 2005 (1:1) and 2004 (2:1). In 1997, Wipro announced a bonus issue in the 2:1 ratio. It also announced 1:1 bonus issues each in 1995 and 1992.