Coastal Corporation Shares On Investors’ Radar After Stock Split Announcement

On December 23, 2024, Coastal Corporation Ltd, a prominent seafood exporter, announced a stock split through an exchange filing. The company revealed that its Board of Directors had approved the split of 1 share with a face value of ₹10 into 5 shares, each with a face value of ₹2. This marks the first-ever stock split in the company’s history. The record date for the stock split will be communicated in due course, as per the exchange filing.

What is a Stock Split?

A stock split is typically implemented to make shares more affordable and enhance liquidity in the market. By lowering the price per share, a stock split makes the stock more accessible to smaller investors. With a reduced share price, stocks tend to trade more frequently, which improves the ease of buying and selling.

About Coastal Corporation Ltd

Coastal Corporation is a leading producer and exporter of high-quality aquaculture seafood products worldwide, according to the company’s website. As of the shareholding pattern for the September quarter, the promoters hold nearly 42% of the company’s shares. Among public shareholders, domestic mutual funds have no stake, while foreign institutional investors hold 1.4%.

On a consolidated basis, Coastal Corporation reported an 88.6% decline in net profit to ₹0.51 crore in Q2 FY25, compared to Q2 FY24. However, net sales grew by 39% year-on-year, reaching ₹154.77 crore in the September 2024 quarter.

On December 24, 2024, Coastal Corporation shares opened at ₹267.70 and touched the day-high of ₹267.70 at 09:30 AM, reflecting a gain of 0.29% from the previous close.

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