Atal Realtech shares jump 10%; company board to consider stock split

Shares of Atal Realtech rebounded on Tuesday as the stock rose sharply ahead of the company's board meeting scheduled on September 21, 2023. Atal Realtech's board is likely to consider the proposal for stock-split, it informed through an exchange filing on Monday.

"We hereby inform you that a meeting of the board of directors of the company is scheduled to be held on Thursday, September 21, 2023 inter alia, to consider and approve subdivision/stock split of equity shares of the company," it said in the exchange filing with the bourses.

Shares of Atal Realtech surged as much as 10 per cent, to Rs 105.20 on Tuesday, just shy-off its upper circuit limit of 10 per cent. The scrip had settled at Rs 95.95 on Monday, after hitting its 52-week low at Rs 94.50 during the previous trading session. For the quarter ended on June 30, 2023, Atal Realtech reported a net profit of Rs 0.23 crore, with a total revenue of Rs 4.33 crore.

A stock split or sub-division of equity shares is done in order to boost liquidity in the stock and make the stock price affordable for small investors and traders as the market price of the stock is adjusted in the ratio of split.

Incorporated in 2012, Nashik-based Atal Realtech provides integrated contracting and subcontracting services for civil and industrial construction, engineering and complete infrastructure project management. The company is a registered contractor with the Government of Maharashtra Public Works Department in Class I-A.


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