Multibagger Stock Sets Record Date For 1:10 Stock Split, Up 100% In 1 Year

Small-cap firm Ashapuri Gold Ornament operates in the consumer discretionary industry. With 25 years in business, the firm is a well-known producer and supplier of gold jewellery. In order to enhance the liquidity of stock and make shares affordable in the share market, Ashapuri Gold Ornament has announced stock split in 1:10 ratio.

"The Board of Directors of the Company has fixed Tuesday, July 18, 2023, as the Record Date for the purpose of Split/Sub-Division of 1(One) equity share having face value of Rs.10/-(Rupees Ten Only) each into 10(Ten) equity shares of Rs.1/-(Rupees One Only) each," said Ashapuri Gold Ornament in a stock exchange filing.

During the quarter ended March 2023 its net income was Rs 30.26 Cr compared to Rs 37.74 Cr in the March 2022 quarter. Its net expenses stood at Rs 30.13 Cr compared to Rs 36.95 Cr in the same quarter of FY22. The company said its EBIT was Rs 0.13 Cr as against Rs 0.79 Cr in the corresponding quarter of FY22. Ashapuri Gold Ornament said during Q4FY23 its net profit reached Rs 0.03 Cr compared to Rs 0.35 Cr in Q4FY22. The company is yet to declare its Q1FY24 results.

On Friday, the shares of Ashapuri Gold Ornament opened on the BSE at Rs 84.50 apiece and were trading at Rs 84.34 with an upside gap of 1.53% while writing this copy. The stock made a 52-week-high of Rs 95.30 on (13/02/2023) and a 52-week-low of Rs 40.00 on (07/07/2022), indicating that at the current market price the stock is trading 11.50% below the 1 year high and 110.85% above the 1 year low.

The stock price jumped from Rs 35 to the current market price during the past three years, resulting in a multibagger return of 147%. The stock price climbed from Rs 41.20 to the current market price in the past year, representing a multibagger return of 102%. The stock has gained 48.34% YTD so far in 2023.

During Q4FY23, the company reported promoter shareholding of 62.17%, FIIs stake of 4.32% and public stake of 33.50%.