Both these stocks have given multibagger returns on a year-to-date (YTD) basis, with Kshitij Polyline up 610% and 104% returns from Sanmit.
Listed companies go for corporate actions such as dividends, stock splits etc, based on their long and short-term goals. Stock splits, in particular, are carried out to boost the liquidity of the shares by dividing the company’s existing shares into multiple shares.
Kshitij Polyline will be splitting its shares from a face value of Rs 10 to Rs 2, implying a 1:5 stock split, while Sanmit approved a stock split from the face value of Rs 10 to Re 1, a stock split in the ratio of 1:10.
Kshitij Polyline, founded in 1998, is into manufacturing, distribution, supply, import and export of a range of products, including smart ID card products, binding and lamination equipment, related materials and accessories and stationery products.
Sanmit Infra is an infra company managed by Makhija Group. The company diversified from a petroleum industry player into real estate.