EXPLAINED! Are Waterways Leisure Tourism shares really down by 90%?
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Waterways Leisure Tourism, which operates the Cordelia Cruises brand, has set 26 August as the record date for its first-ever 1:10 stock split. With the record date falling on Wednesday, today is the final trading day for investors to purchase the shares and qualify for the corporate action. The recently listed travel company had announced the stock split only seven trading sessions after making its stock market debut on 1 July. Under the approved proposal, every existing equity share with a face value of ₹10 will be subdivided into 10 equity shares with a face value of Re 1 each. The company said the move is intended to improve the stock's liquidity and make it more affordable, potentially expanding its appeal to a wider pool of investors. It expects the subdivision to boost trading volumes and broaden its shareholder base, while leaving the company's overall capital structure and intrinsic value unchanged. Under SEBI's T+1 settlement cycle, investors need to buy the shares at least one trading session before the record date to ensure that they are credited to their demat accounts in time. Therefore, today is the last day to buy Waterways Leisure Tourism shares to become eligible for the 1:10 stock split. Waterways Leisure Tourism share price rose over 3% on Tuesday to hit a record high of ₹107.50 apiece on the BSE. However, despite the recent rally, the Waterways Leisure Tourism share price remains down nearly 90% from its IPO price of ₹808. Waterways Leisure Tourism share price today opened at ₹102.90 apiece on the BSE, the stock touched an intraday high of ₹107.50 per share, and an intraday low of ₹101.30 per share. (more to come) Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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