The shares of Karnavati Finance, a micro-cap company reached a fresh 52-week high of ₹ 190.80 apiece on Monday’s early trades after its shares gained 4.98% on the National Stock Exchange (NSE). Its shares were locked in an upper circuit.
Karnavati Finance offers end-to-end lending, financing and wealth management solutions to a diversified range of customers across India. It has a market capitalization of ₹ 183 crores.
The company has fixed 24th February 2022 as the record date for the sub-division/split of its equity shares in the ratio of 1:10. Therefore its equity shares having a face value of ₹ 10 each will be divided into 10 shares having a face value of ₹ 1 each.
It said that the rationale behind the split is to enhance the liquidity of the shares and encourage the participation of small investors by making the shares more affordable.
The finance company’s shares have been on an uptrend and have gained 23.06% in the past week. In fact, they have given multibagger returns of 536.00% in the past six months. Therefore, if an investor would have invested ₹ 1 lakh in the shares of the company six months ago, the value of their holdings would have been ₹ 6.36 lakhs today!
Similarly, it has given multibagger returns of 717% in the past year. Therefore, if an investor would have invested ₹ 1 lakh in the shares of the company a year ago, the value of their holdings would have been ₹ 8.17 lakhs today!
Written by Simran Bafna
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