Jewellery Penny Stock Under Rs 5; Board Likely To Raise Rs 40,00,00,000 via Rights Issue

The stock is up by 16.5 per cent from its 52-week low of Rs 4.12 per share and has given multibagger returns of 360 per cent in 5 years.

On Friday, shares of Deep Diamond India Ltd gained 2.34 per cent to Rs 4.80 per share from its previous closing of Rs 4.69 per share. The stock’s 52-week high is Rs 11.74 per share and its 52-week low is Rs 4.12 per share.

Deep Diamond India has scheduled a board meeting on Wednesday, April 16, 2025, to consider amending the proposed rights issue size to an amount not exceeding Rs 40.00 crore. This adjustment will be for the rights issue offered to the existing shareholders, adhering to the Companies Act, 2013 and its associated rules, the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other relevant regulations. The meeting will take place at the company's registered office in Mumbai and will address this amendment, among other business matters.

Deep Diamond India Ltd, established in 1993, specializes in crafting a diverse range of 18K real diamond jewellery, including rings, earrings, pendants, and more, all manufactured in-house. The company offers a unique 100% buyback guarantee on its real diamond jewellery and caters to men with custom-made diamond watches, belts, cufflinks and shirt buttons.

The promoters own 0.08 per cent, FIIs own 1.04 per cent and the remaining 98.88 per cent stake is owned by public shareholders as of December 2024. The company has a market cap of over Rs 20 crore and the stock is trading at 0.70 times its book value. The stock is up by 16.5 per cent from its 52-week low of Rs 4.12 per share and has given multibagger returns of 360 per cent in 5 years. Investors should keep an eye on this penny stock.

Disclaimer: The article is for informational purposes only and not investment advice.