1:5 Split After 1:2: Gems & Jewellery Penny Stock Falls 18% On Ex-Split; Check New Price

Rajnish Retail, a gems, jewellery and watches maker, turned ex-split on Friday, October 11, 2024. The stock split by the ratio of 1:5, however, it will be the company's second sub-division in less than 4 years. On the ex-date, the stock nosedived by nearly 18% on BSE, and closed below Rs 11 apiece.

Rajnish Retail Share Price:

The penny stock closed at Rs 10.37 apiece, down by 11.52% on BSE, with market cap of Rs 158.97 crore. Overall, on Friday's session, the stock dipped by 18% to hit an intraday low of Rs 9.62 apiece.

Adjusted to the stock split ratio, the stock's 52-week high and low is at Rs 19.56 apiece and Rs 8.57 apiece respectively.

The price-to-equity ratio is at 33.50x, while return on equity is at 1.47%.

Rajnish Retail Stock Split:

The company turned ex-date for stock split ratio of 1:5. Meaning, 1 equity share of Rajnish Retail with face value of Rs 5 each, was split to 5 smaller shares with face value of Rs 1 each. October 11 was the record date to determine eligible shareholders.

This is the second split in less than four years. The first time Rajnish Retail split was in December 2021, in the ratio of 1:2, where its face value of Rs 10 was cut to Rs 5 each.

The company has delivered no bonus issue and dividends so far.