25 Aug , 2021 By : Kanchan Joshi
Affle India share price has been under huge selloff pressure for the last six months. In the last six months, Affle India shares have dipped around 20 per cent while in the last one month, Affle India share price went down near 7 per cent. However, after the company management informed BSE about its board meeting to approve stock split, Affle India stock price shot up 5 per cent on Tuesday and on Wednesday it has opened 2.60 per cent upside. According to stock market experts, Affle India shares may give strong breakout at Rs4050 per stock levels and hence one should buy the counter above Rs4050.
Speaking on the impact of stock split; Ravi Singhal, Vice Chairman at GCL Securities said, "The board is going to approve stock split on 26th August 2021. But, after the split, there will be no change on the company's financials and hence fundamentals of Affle India stock will remain unchanged. However, after Affle India stock split, price of the stock will come down from whopping Rs4,000 per stock mark. This will enable small investors to invest in this stock and hence we can expect rise n volume of the counter after stock split."
Predicting strong breakout in Affle India stocks; Sumeet Bagadia, Executive Director at Choice Broking said, "Affle India shares may give strong breakout above Rs4050. So, those who want to buy the counter should wait till the stock gives this breakout on closing basis. Affle India has strong support at Rs3800. Hence, those who want to buy the counter should buy Affle India above Rs4050 for the target of Rs4300 to Rs4500 maintaining stop loss at Rs3800."
On 23rd August 2021, Affle India made the corporate announcement citing, "Affle India has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 26/08/2021, inter alia, to consider and approve split of equity shares of the Company, subject to the approval of the shareholders."
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