Multibagger penny stock under Rs 60 with 8,000 per cent returns; Board announces 5:1 stock split!
The stock gave multibagger returns of 955 per cent in 2 years; 1,375 per cent in 3 years and a whopping 8,000 per cent in 5 years.
Rajnish Retail Ltd (BSE: 530525) has announced a stock split! The company's board has proposed to subdivide each existing equity share with a face value of Rs 10 into five new equity shares with a face value of Rs 2 each (Ratio 5:1). The Board fixed the record date for the stock split as Friday, October 11, 2024.
In addition to the stock split, Rajnish Retail Ltd. has also made some exciting business developments. The company recently expanded its portfolio by entering the beauty and wellness industry. They've launched a new salon brand, Urban Salon, which has opened its first shop in Evershine Nagar, Malad District of Mumbai. This strategic move positions Rajnish Retail Ltd. to capitalize on the growing consumer spending in the personal care and grooming sector. The salon boasts state-of-the-art amenities and a team of experienced professionals dedicated to providing exceptional service.
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Rajnish Retail Ltd, incorporated in 1995 and operating under the brand name Sheetal Diamonds, is a company that manufactures, trades, and exports loose diamonds and jewellery. Their product portfolio includes a wide range of diamonds, from white loose diamonds to fancy cut and colour diamonds, all certified by GIA, IGI or HRD. They also offer a vast selection of over 1,00,000 jewellery designs in categories like rings, earrings, pendants, bracelets/bangles, necklaces, and nose pins. The company caters to diverse tastes with various plating options including rhodium, silver, antique silver, gold, antique gold, lacquer gold, rose gold, carat gold, Victoria and two-tone plating in gold and rhodium.
On Friday, shares of Rajnish Retail plunged 0.19 per cent to Rs 58.73 per share from its previous closing of Rs 58.84 with an intraday high of Rs 59.27 and an intraday low of Rs 57.50. The stock’s 52-week high is Rs 97.80 and its 52-week low is Rs 38.21. The company has a market cap of Rs 180 crore. The stock gave multibagger returns of 955 per cent in 2 years; 1,375 per cent in 3 years and a whopping 8,000 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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