TTK Prestige - Stock Split Executed; Maintain Positive Stance: ICICI Direct
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ICICI Direct Report
TTK Prestige Ltd. is India’s leading player in kitchen solutions and has been successful in transforming itself from a company manufacturing pressure cookers to having an entire gamut of home and kitchen appliances.
The company, over the years, has maintained its balance sheet strength with strong cash reserves (~Rs 500 plus crore) and healthy return on invested capital of 30% plus.
Further shares of the company were split on December 14, 2021 (ex-date) pursuant to the shareholder approval granted for sub-division of shares in its meetings on December 1, 2021. The record date for the same has been fixed as December 15, 2021.
Subsequently, the shares of TTK Prestige have been split with existing face value of Rs 10 being subdivided into 10 equity shares of Rs 1 face value each.
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