Bharat Dynamics share: The stock of Bharat Dynamics (BDL), a company related to defense sector, has created a new record. The stock rose 8% to a new high of Rs 2,844.65 during trading on Thursday. Let us tell you that stock split is going to happen on Friday in the ratio of 1:2. Before this, there is huge demand for shares of government company BDL. This is the eighth consecutive day that shares have remained rockets. The stock rose 54 percent during this period.
Stock split details
BDL plans to split the existing 1 equity share of face value Rs 10 into 2 equity shares of face value Rs 5 each. For this, May 24, 2024 was fixed as the record date for the purpose of determining the eligibility of the shareholders.
On the rationale behind the stock split decision, BDL said it had to follow the Department of Investment and Public Asset Management (DIPAM) guidelines on capital restructuring. Under this, the objective is to encourage wider participation of small investors and increase the liquidity of the company’s equity shares in the stock market.
BDL Shareholding
As of March 31, 2024, BDL’s promoter Government of India held 74.93 percent stake in the company. Of the remaining 25.07 per cent, retail individual shareholders also hold 8.07 per cent, mutual funds (7.93 per cent), insurance companies (3.95 per cent), foreign portfolio investors (2.95 per cent).
How much of a jump in two months
BDL’s share price surged 69 per cent in the last two months after the company’s board approved the split of equity shares on March 21. It has jumped 81 percent from the low of Rs 1,552.15 on March 14. Let us tell you that BDL, one of the leading defense PSUs in India, is involved in the production of surface-to-air missiles (SAM), anti-tank guided missiles (ATGM), air-to-air missiles (AAM), water Below is engaged in the creation of weapons, launchers, countermeasures and testing. The company has a strong order book. The company’s order backlog as of January 31, 2024, stood at Rs 20,070 crore.
