Shares of Colorchips New Media hit an upper circuit of 5 per cent for the second straight session on Tuesday after the firm announced the date for the split of the sub-division of equity shares in the ratio of 1: 5. Multibagger returns were delivered by the stock in 2022. It has gained 352 per cent during the period and delivered 175 per cent returns in a year.
Colorchips New Media stock opened at Rs 100.40, a gain of 4.86 per cent, against the previous close of Rs 95.75 today. The stock was trading 4.96 per cent higher at Rs 100.50 on the BSE.
Colorchips New Media shares are trading higher than 50 day, 100 day and 200 day moving averages, but are lower than 5 day and 20 day moving averages. The firm's shares changed hands to a total of 2.54 lakh, which was a turnover of Rs 2.56 crore on the BSE. The share hit a 52 week high of 160.05 on September 9, 2022 and a 52 week low of 21.10 on December 20, 2021.
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The Board of Directors of the Company has a meeting on September 24th, 2022 and has set a record date on Wednesday, October 12th, 2022 for the determining eligibility of Shareholders with regard to the sub-division of Equity Shares of the Company from Face Value of Rs. 10 -- each to Face Value of Rs. The stock split was announced by the firm on September 1, in the ratio of 1: 5. The firm said that it has recommended a stock split in the ratio of 1: 5, from the face value of Rs 10 each to the face value of Rs 2 each.
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The shares of Colorchips New Media hit the upper circuit in the very next session, which was buoyed by the development. Colorchips New Media increased its daily circuit limit by 5 per cent, to Rs 125.5 on September 2. The scrip had closed at Rs 119.55 on September 2.
Colorchips New Media is engaged in the business of production and distribution of cinematography films, ad-films, television films, video films, cartoon films, 3D films, animation films.