The shares of a leading jewelry firm rose around 1.8% to ₹282 per share following board approval of a stock split in the ratio of 1:10.
At 11:45 a.m., Motisons Jewellers Ltd. shares were trading at ₹ 276.80 apiece, down 0.13% from the previous close price on the national stock exchange. The company has a market capitalization of ₹2,727 crore.
What Happened
According to Motisons Jewellers exchange filing, The company’s board has approved the subdivision/split of equity shares, transitioning from ₹10 face value to ₹1 each in a 1:10 ratio. Consequently, shareholders will receive 10 additional shares for each share held. The Record Date is set for November 9, 2024.
Company Financials:
In Q1 FY25, the company’s revenue grew by 2.2% year-on-year, increasing from ₹86.73 crore to ₹88.71 crore. Meanwhile, net profit surged by 15%, rising from ₹5.48 crore to ₹6.33 crore during the same period.
Motisons Jewellers Ltd shares were listed on the Indian stock market in December 2023 and have gained 167% since their listing.
As of the June quarter shareholding pattern the company promoter holds a 66% stake in the company and the retail investor holds a 33.58% stake.
About the company
Motisons Jewellers Ltd sells gold, diamond, and kundan jewelry as well as other jewellery products. The company sells pearls, silver, platinum and other metals.
Motisons Jewellers began its journey in 1988 as a jeweler. Today, it has an extensive portfolio of over 300,000 designs, offering a wide range of jewelry including gold, diamonds, and Kundan, as well as gold and silver coins, utensils, and artifacts.
Written by Omkar Chitnis
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