The shares of Deep Diamond India were trading 3.5 percent higher in the early hours of Friday. On January 3rd, 2022 the company announced a stock split. Since then the stock has gained more than 26 percent.
The board of the company has approved the Subdivision of equity shares with a Face Value of Rs. 10 each to equity shares with a Face Value of Re 1 each. For this purpose, the record date has been set as January 20th, 2023.
Deep Diamond India is in the business of Gold and Diamond Studded Jewellery. It provides a varied range of 18K real diamond jewellery which is manufactured at its facility. The company also offers 100% buyback on all its real diamond jewellery.
The shares of the company have zoomed from Rs 17 a piece in January up to the current levels logging a multibagger return of 753 percent in a year. An investment of Rs 1 lakh then would be worth Rs 8.53 lakhs in just one year.
In the span of two years, the stock has jumped from Rs 12.5 apiece in February 2021 up to the current levels, logging a multibagger return of 1,163 percent in the period. An investment of Rs 1 lakh would be worth Rs 12.63 Lakhs in 2 years.
The company reported a total revenue of Rs 2.86 Crore in Q2FY23 which grew multi-folds from Rs 34 lakhs in the same period a year earlier. Their net profit in the period stood at Rs 42 lakhs up from Rs 4 lakhs in Q2FY22.
The small-cap stock has a market capitalization of Rs 49 Crore. The promoters holding in the company is very low at 0.13 percent while the remaining stake of 99.87 percent is held by the public.
Written by Anoushka Roy
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
