Trading below Rs 100, Rajnish Retail is a maker of gems, jewellery, and watches. This penny stock is queued to split soon in the ratio of 1:5. Meaning, 1 equity share of Rajnish Retail will soon split into 5 equity shares. YTD, the stock is up by 38% on BSE.
Rajnish Retail Share Price:
On June 10, the stock price stood at Rs 86.93 apiece, down by 3.80% on BSE with market cap of Rs 266.53 crore. The stock is near its 52-week high of Rs 97.80 apiece, while is currently up by 420% from its 52-week low of Rs 16.71 apiece.
In a year, the stock has zoomed by 372% on BSE. All-time gains is about 828.42%.
Rajnish Retail Stock Split:
The company has approved Sub-Division/Split of 1 Equity Share into 5 equity shares, subject to the approval of the Members of the Company and other regulatory / statutory approvals as may be required. The record date for the sub-division of equity shares shall be decided by the Board and will be intimated to the stock exchanges after receipt of approval of the members.
Only those investors will be eligible for Rajnish Retail's stock split who hold the stock as of the record date
This comes after the company's board approved issue and allotment up to 690,000 convertible warrants, each convertible at an issue price that may be decided by the Preferential Issue Committee to promoters and/or non-promoters through preferential issue, subject to approval of the shareholders and other authorities under applicable laws.
Notably, Rajnish Retail has recently expanded its portfolio by venturing into the beauty and wellness industry with the launch of a new salon. This strategic move is aimed at diversifying our business and capitalizing on a growing market. Urban Salon, a brand of Rajnish Retail Limited, has started a new Shop in Evershine nagar, Malad District of Mumbai. Urban Salon has opened beauty and wellness shop. The beauty and wellness industry is witnessing robust growth, driven by increasing consumer spending on personal care and grooming services. The salon will be equipped with state-of-the-art amenities and staffed by experienced professionals committed to delivering exceptional service.
Earlier, Rajnish Retail announced that it has effected a name change from Sheetal Diamonds Ltd., and is now trading under the name of "Rajnish Retail Ltd.". All Retail business with innovative ideas will be launched under this banner. Mr. Rajnishkumar Singh, the visionary behind Rajnish Wellness Ltd.'s success with Dava Discount stores, had earlier completed the acquisition of Rajnish Retail Ltd. (Formerly Sheetal Diamonds Ltd). As a result of conditions of open offer and change in control of management, the new board will now be led by Rajnishkumar Singh (Promoter and Chairman), Vijay Kumar Chopra, Anandkumar Jain, Apra Shah, Lovish Kataria and Renu Kaur, who will all serve as Additional Non-Executive independent directors. Vijay Kumar Chopra will serve as the CEO and Executive director and Anandkumar Jain as Whole Time Director.
About Rajnish Retail:
The Company takes care of all Diamond jewellery requirements from LOOSE DIAMONDS, RINGS, EARRINGS, TOPS, BRACELETS, NECKLESS SETS, WATCHES and all that reflect beauty and feature eternal and enduring designs. Apart from these, the Company offer spectacular range of diamond jewelry crafted by the best of jewelry designers in the industry.
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