This means today is the last day to buy the stock to be eligible for the stock split.
“This is to inform you that Tuesday, 3rd 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,” said the company in an exchange filing.
This means today is the last day to buy the shares of the company to be eligible for the said stock split as after the implementation of the T+1 settlement system, the record date and ex-date are typically the same, except when a market holiday follows the ex-date.
Shareholders who buy the stock at least one day before the ex-date are eligible for the stock split as settlement happens the next day. Those buying the stock on the ex-date are not eligible for the same.
According to the data available on Trendlyne, this is the first-ever instance that the company has split its shares.The shares of Diamond Power Infrastructure have given whopping returns of 1358.71% in the last one year and of 829.53% and 57.61% in the current year so far and last 6 months respectively.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)