Multibagger stock Servotech Power Systems will trade ex-split with new ISIN number on Friday, July 28. The board approved the split 2: 1 ratio, which means that the company's share with a face value of Rs 2 will be split in two shares with a face value of Re 1 each.
In May 2023, Servotech announced a sub-division split of its equity shares to enhance the liquidity of the company's equity shares and to encourage wider participation in the stock market, the company said through a separate exchange filing.
In February, the company split its shares in a 1: 5 ratio. The equity shares with a face value of Rs 10 each were divided into five equity shares with a face value of Rs 2 each. This is the second split announced by the company in 2023.
Shares of Servotech Power Systems rose about 2 per cent to 178.95 on Thursday, commanding a total market capitalization of around 1,825 crore. The scrip had settled at Rs 174.45 on Wednesday. The stock has gained 15 per cent in the past two weeks.
Shares of Servotech Power Systems have delivered multibagger returns to investors. The stock has soared more than 1,350 per cent in the last 12 months, while the stock's value has grown about 450 per cent in the past 12 months. Even in the past six months, the stock has surged about 300 per cent.
Servotech Power Systems, a New Delhi-based company, is a top producer and provider of EV charging solutions, solar products, and medical devices in the nation. In addition to EV charging solutions, it also manufactures and distributes solar products and medical devices.
In June 2023, Servotech Power Systems clocked a 1,050 percent rise in its consolidated net profit, compared to a net loss of Rs 0.36 crore in the same quarter a year ago. The company's operating profit rose 148 per cent to Rs 79.57 crore in Q1 FY24, which was Rs 32.04 crore a year ago.