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Motisons Jewellers has announced a 1:10 stock split, with November 9, 2024, set as the record date. The stock recently closed at Rs 287.30, with a projected target price of Rs 224.
Motisons Jewellers, a renowned jewellery brand based in Jaipur, has announced its first-ever stock split in a 1:10 ratio, subject to shareholder approval. The company has set November 9, 2024, as the record date for this stock split, which will reduce the face value of each equity share from Rs 10 to Re 1. The decision to split the stock is aimed at enhancing its liquidity and making it more affordable for small investors, ultimately broadening the investor base.
As of 12:30 pm on 23rd September 2024, the share price is trading at Rs 306.17 after a jump of 6.47%. The stock recently touched a 52-week high of Rs 294.00.
In addition to the stock split, Motisons Jewellers has approved an increase in its authorized share capital to Rs 125 crore, further reflecting its growth ambitions. The company also reported a 15.6% jump in net profit for Q1FY25, reinforcing its financial strength.
Source – Economic Times
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