Daily Stock Market News

Multibagger stock gains 200% in 2 years since IPO, Board announces stock split


With a market valuation of 804.48 crore, Likhitha Infrastructure Ltd. is a small-cap firm that operates in the construction industry. The firm specialises in pipeline laying business and offers installation, testing, and commissioning of oil and gas pipelines as well as project management for city gas distribution and operation and maintenance (O & M) services. The company is among the top pipeline laying companies in India, with operations in the states of Karnataka, Delhi, West Bengal, Gujarat, Andhra Pradesh, Telangana, Kerala, Madhya Pradesh, Jharkhand, Bihar, Chandigarh, Haryana, Orissa, and Uttar Pradesh among others. It also has 20+ years of extensive experience in the field. The Board of Directors has announced stock split and the record date for the same has also been fixed.

The company has said in a stock exchange filing that “Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Company has fixed Friday, December 02, 2022, as the Record Date for ascertaining the eligibility of shareholders entitled for corporate action of split/Subdivision of 1 (One) equity share having Face Value of Rs. 10/- (Rupees Ten Only) each into 02 (Two) Equity shares having Face Value of Rs. 05/- (Rupee Five Only) each.”

Today’s closing price for Likhitha Infrastructure Ltd. shares was Rs. 407.85 per share, up 4.59% from yesterday’s close of Rs. 389.95. In comparison to the 20-Day average volume of 102,524 shares, the company had a total volume of 237,784 shares today. The stock was spotted trading above the 5 days, 10 days, 20 days, 50 days, 100 days, and 200 days SMAs at its closing price today. Likhitha Infrastructure’s initial public offering (IPO) ran from September 29, 2020, to October 7, 2020, with an IPO size of 61.20 Cr. On Thursday, October 15, 2020, the company listed on the BSE at an issue price of 120 per share. The stock has appreciated 214.62% since its IPO to its closing price today. The stock has appreciated 23.94% over the past year, and on a year-to-date basis, it has climbed 12.39% in 2022. For the quarter ended September or Q2FY23, the company posted a promoter shareholding of 74.11%, FIIs holding of 0.32%, and a public stake of 25.57%.

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