Ajanta Soya hits the roof after board OKs stock split

Ajanta Soya hit an upper circuit of 5% at Rs 259 after the company said its board approved 5-for-1 sock split.

The board of Ajanta Soya on 20 April 2022 approved splitting each share of face value Rs 10 each into five shares of face value Rs 2 each.

The board also approved alteration of the object clause of the memorandum of association of the company (MoA). The following new sub-clause was added in the Capital Clause (Clause V) of MoA:

"To engage and deal in all aspects of the business, consultancy, generation, transmission, sale, purchase, captive consumption, supply and distribution of solar power/electricity, hydro power, thermal power, geothermal power, biomass power in India and abroad by establishment of solar power plant or any other type of power generation plant using conventional and/or non-conventional energy sources as may be in use or which may be developed or invented in future."

"To carry on the activities of nursery, plantation, agriculture, horticulture and farming on any land or property of the company or upon any other property or land whether belonging to the company or not and to act as a consultant in the field of nursery, plantation, agriculture, horticulture and farming and processing of such produce and to import and export plants and other produce and products relating to the activities of nursery, plantation, agriculture, horticulture and farming and extraction and process of such agriculture produce, including but not limited to oilseeds, pulses, rice, wheat, maize, millets, nuts, vegetables or any other kind of agricultural produce."

Ajanta Soya is a leading manufacturer and marketer of vanaspati, cooking oils and bakery application since two decades.

Net profit of Ajanta Soya declined 24.77% to Rs 5.77 crore on 28.33% rise in net sales to Rs 308.63 crore in Q3 December 2021 over Q3 December 2020.

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