Multibagger stock with 700% gains in 2 years to go ex-split tomorrow. Last day to buy today

Chandrima Mercantiles, a stock that has turned into a multibagger by delivering nearly 700% returns in just two years, is now set for a corporate action that has caught investor attention. The company has announced a stock split from a face value of Rs 10 to Rs 1, and has fixed Wednesday, August 20, as the record date for determining shareholder eligibility.

This makes today the last day to purchase shares in order to qualify for the split.

The split will increase the number of outstanding shares by a factor of ten, with investors receiving 10 shares of Rs 1 each for every 1 share of Rs 10 held.

While the overall investment value will remain unchanged immediately post-split, the reduced face value is expected to improve liquidity and make the stock more accessible to a wider base of investors.

Over the past two years, the stock has witnessed a staggering rally of nearly 700%, rewarding early investors handsomely. This kind of performance places Chandrima Mercantiles firmly in the multibagger category, attracting both retail and institutional attention.

For clarity, the record date is the cut-off date decided by the company to identify eligible shareholders for corporate actions such as stock splits, dividends, or bonuses.Since Indian markets operate on a T+1 settlement cycle, investors must ensure they buy the stock at least one day before the record date to be eligible. Therefore, anyone looking to benefit from the stock split needs to purchase shares today.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times).