Goldiam International soars 16% on stock split plan; gains 350% in one year

Shares of Goldiam International rallied 16 per cent to Rs 1,042 on the BSE in Wednesday’s intra-day trade after the company said its board will meet on February 8 to consider the proposal for sub-division/split of company's equity shares of face value of Rs 10 each.

The board will also consider financial results for the quarter and nine months ended December 31, 2021, along with the first interim dividend, if any, and to fix the record date for the purpose of payment of dividend.

At 01:52 pm, Goldiam International was up 12 per cent at Rs 1,012, as compared to a 0.76 per cent rise in the S&P BSE Sensex. A combined 490,000 equity shares had changed hands on the counter on the NSE and BSE. The stock had hit a record high of Rs 1,142.60 on October 28, 2021.

A stock split is a corporate action that companies take to increase the number of outstanding shares and decrease the value of each share. It is often a sign that a company is thriving and that its stock price has increased. While, that’s a good thing, it also means the stock has become less affordable for investors. As a result, companies may do a stock split to make the stock more affordable and enticing to individual investors.

In the past 12 trading days, the market price of Goldiam International has appreciated 36 per cent from the level of Rs 765 on December 27, 2021. In the last six months, it has soared 90 per cent, as against a 17 per cent rise in the S&P BSE Sensex. Further, in the last one year, it has zoomed 350 per cent, as compared to a 23 per cent rally in the benchmark index.