SME sector is the focus of Latteys Industries Ltd, a small-cap company having a market valuation of 165 crores. The company manufactures pumping systems for the domestic, agricultural and industrial markets. Since 2004, pumps include horizontal openwell submersible pumpsets, shallow-well pumps, self-priming pumps, monoblock centrifugal pumps and submersible pumps. The firm produces over 700 different pump models across its range, with an installed manufacturing capacity of over 1,20,000 pumps annually. The Company’s Board of Directors has established a record date and the details for the purpose of the 1:5 stock split are as follows.
Latteus Industries said in an NSE filing that “Pursuant to Regulation 42 of SEBI (LODR) Regulations 2015, we wish to inform you that the record date for determining the eligibility of members for the purpose of sub-division shall be February 10, 2023. Rs. Equity Shares of the Company of face value of Rs.10/- each to face value of Rs.2/- each (with corresponding increase in total number of shares).”
The record has been fixed for the purpose of split/sub-subdivision of 1 equity share from the current face value of Rs. 5 Equity Shares of 10/- each of face value of Rs. 2/- each and the company claims that the stock split action has been announced in order to encourage wider participation of retail and small investors by making the share price more affordable, as well as to increase the liquidity of the equity shares in the stock exchanges. Even for
On June 5, 2018, the company was listed on NSE with an issue price of 66 per share. From that level, it has risen in value to the current market cap, reaching an all-time high of 111.76% over the past five years. Shares of Latteys Industries on NSE on Friday 144.00 each level, down 3.36% from the previous close 149.00. share price climbed 21.82 at the current market price in the last three years, resulting in multibagger returns of 559.95%.
The share price increased from Rs. 56.45 at the current market price during the last year, resulting in a multibagger return of 155.09%. The stock has appreciated by 84% in the last month, but has declined by 3.36% during the last week. The stock touched a 52-week high 166.00 and 52-week low 28.80, indicating that at the current market price, SME stock Lattes Industries is trading 13.25% down from 1-year high and 400% up from 1-year low. The promoter holding in the company is 72.26% and public holding is 27.74%.
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