1:5 Stock Split Approved: Jewellery Stock Hits Upper Circuit, Issues Update On Warrants

Small cap company operating in gems & jewellery stock, Rajnish Retail Ltd share today hit upper circuit to Rs 91.15 per share. Board of Directors of Rajnish Retail also gave approval to 1:5 stock split and yet to declare the record date for the same. The company also issued an update on issue and allotment of warrants today. Rajnish Retail shares offered attractive returns of 361% in last 1-year. Check more details below:

Rajnish Retail Approves Stock Split: As per the BSE filing of Rajnish Retail dated June 3, 2024, "board 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."

Rajnish Retail Gives Update On Warrants: The exchange filing added, "The board further approved offer, 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."

Recent Expansion: Recently the company 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.

Rajnish Retail Share Performance: The 52-week high price of Rajnish Retail share on BSE is Rs 97.80 per share (as on 27/05/2024) and 52-week low price is Rs 16.71 per share (as on 23/06/2023), respectively. The company has a market capitalisation of Rs 283.57 crore. Rajnish Retail shares declined over 3% in last 1-week, gave return of 60% in last 6-months, soared 1318% in last 2-years, and zoomed 6751% in last 3-years.

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The stock highlights the stock split and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.