Visaka Industries to Turn Ex-Split, InvestingPro Pegs Upto 76% Downside

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Visaka Industries to Turn Ex-Split, InvestingPro Pegs Upto 76% Downside
Credit: © Reuters.

By Malvika Gurung -- The corrugated fibre cement sheets manufacturer Visaka Industries (NS: VSKI ) is to remain under focus on Monday as its shares will turn ex-split in the session.

According to's ‘Splits Calendar’, the stock is set to turn ex-split on May 15, 2023.

The Board of Directors of Visaka Industries had declared the sub-division or split of existing equity shares from one share having a face value of Rs 10 each into five equity shares with a face value of Rs 2 each.

The small-cap company’s Board approved the aforementioned stock split on approval of shareholders received through a postal ballot on April 5.

The record date for the stock split has been fixed as Monday, May 15, 2023.

Splitting a stock typically increases the stock’s liquidity in the capital market and makes it more affordable for small investors. Doing so increases the number of shares in the market while keeping the stock’s market capitalization unchanged.

InvestingPro models appear bearish on the building materials’ stock and have an average fair value of Rs 125.9/share set on it. At Visaka Industries’ closing price on Friday, the average fair value is at a potential downside of 71.1%.

InvestingPro sees the most bearish fair value set on the small-cap stock at Rs 102.94/share, indicating a 76.4% potential downside.

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