Lancer Container Lines stock split: Board sets record date for multibagger’s corporate action

Shares of Lancer Container Lines are in focus after the firm has announced stock split from face value of Rs 10/- per share to Rs 5/- per share. Lancer Container Lines is a multibagger stock with 156% returns, 110% returns and 3,647% returns in 2022, one year and three years, respectively. However, the stock has fallen 6.77% in a month. The stock of the firm was trading 1% higher at Rs 457.40 against the previous close of Rs 452.90 on BSE. The share hit an intraday high of Rs  461.35 on BSE.

Market cap of the firm stood at Rs 1,378.65 crore, respectively. Total 3397 shares of the firm changed hands amounting to a turnover of Rs 15.54 lakh on BSE.

Lancer Container Lines shares were trading higher than the 5 day, 50 day, 100 day and 200 day moving averages but lower than 20 day moving averages. The board of the company said that Friday, December 16, 2022 has been fixed as the record date for stock split.

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On October 28, 2022, the company announced that “The Board recommended the Split/Sub-division of Ordinary Equity shares of the Company from Face Value of Rs.10/- each to Face Value of Rs.5/- each, subject to the approval of Members of the Company in the Extra Ordinary General Meeting. The record date for the sub-division of shares shall be intimated in due course.”

Lancer Container Lines Ltd. is engaged in the transport services industry. It is one of the major companies in India’s logistics sector. Lancer Container Lines provides a variety of shipping services and has strong relationships in India, the Indian subcontinent, South East Asia, the Far East, the MENA area, and CIS nations.