Double Dhamaka! 1:5 bonus share & 5:1 stock split record date announced: Multibagger Jewellery manufacturing stock under Rs 100 to keep under radar!
The stock gave multibagger returns of 770 per cent in 5 years.
On Friday, shares of Starlineps Enterprises Ltd plunged 4.31 per cent to Rs 84.35 per share from its previous closing of Rs 88.15 per share. The stock’s 52-week high is Rs 185.80 per share and its 52-week low of Rs 83.30 per share. The stock gave multibagger returns of 770 per cent in 5 years.
bonus Shares & stock split Update: The company has approved a stock split from Rs 5 to Re 1 per share, subject to shareholder approval via postal ballot and other necessary clearances (Ratio 5:1). Additionally, a 1:5 bonus issue is proposed for existing shareholders post-split, also pending shareholder and regulatory approval. To accommodate these changes, the company will increase its authorized share capital from Rs 22 crore to Rs 37 crore, requiring shareholder and regulatory approval. The Board fixed the record date for bonus shares and stock split as Wednesday, September 25, 2024.
Starlineps Enterprises Ltd, established in 2011, is a Surat-based wholesale and retail trader of diamonds and jewellery. The company sources its products domestically and distributes them to manufacturers, wholesalers and retailers primarily in Gujarat. Their product range includes precious stones and jewellery & they offer trading services for various precious metals, stones and ornaments. The company has a market cap of Rs 365 crore.
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Starlineps Enterprises Limited has secured a significant order worth Rs 379.62 million from Saketh Impex for the supply of natural diamonds before September 30, 2025. Additionally, the company has made a strategic investment of Rs 25 lakh in CUR8, a GenAI-powered revenue tech platform, acquiring up to a 100-basis point equity stake. This investment positions Starlineps in the high-growth technology sector and grants access to cutting-edge GenAI capabilities. Furthermore, Varshaben Dhirajlal Koradiya, a major shareholder, has announced that 15 lakh equity shares or a 3.59 per cent stake of the company have been freed from a pledge held by Orbis Financial Corporation Limited.
Disclaimer: The article is for informational purposes only and not investment advice.
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