Rolex Rings Stock Split: Today Is the Final Day to Buy Shares Before Face Value Reduction

Rajokot, Gujarat: The 1:10 stock split announced by Rolex Rings Ltd is going to be executed soon. The company has set October 17 as both the ex-date and the record date for the stock split.

The ex-date is the cut-off date before which an investor must hold or buy the shares of a company to be eligible for the stock split. The record date is the date on which a company looks at its shareholders’ list to determine shareholders eligible for the stock split.

As Rolex Rings Ltd has set both the ex-date and record date on October 17, investors must hold or buy the shares of the company before the closing of the stock market today.

Rolex Rings Ltd is an Indian company that manufactures forged and machined components. The company was established in 2003 and is headquartered in Rajkot, Gujarat.

As of 9:30 AM, Rolex Rings Ltd share price is up by 2.58%, or 33.40 points, and is currently trading at ₹1,330. The traded volume stands at 36.90 thousand shares, with the company’s market cap at ₹3,531 crore. The shares have declined 7.58% in one month, 14.79% in three months, and 30.13% year-to-date. On an annual basis, the stock has declined 44.72%, although it remains well above its 52-week low of ₹1,170, with a high of ₹2,428 reached earlier in the year.

Rolex Rings Ltd 1:10 Stock Split

As per the company’s announcement of a 1:10 stock split, eligible shareholders will receive ten equity shares of ₹1 each for every one share held at ₹10 face value. Since investors will get 10 extra shares, the share price will fall by one-tenth tomorrow on the ex-date to adjust for the extra shares. Hence, this will not affect the investment value of investors and the market cap of the company.

The main aim for such a corporate action is to reduce the share price to make it more affordable and attractive to the investors, along with increasing the overall liquidity.

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