10:1 Stock Split: This jewellery scrip hits upper circuit as shares trade ex-date
The surge in share price comes as shares trade ex-date today for a 10:1 stock split.
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The stock hit a 5 per cent upper circuit today.
Shares of Motisons Jewellers gained 5 per cent to hit an upper circuit of Rs 32.25 on the BSE today i.e. November 8, 2024. The counter opened at Rs 31.45 against the previous close of Rs 30.75. It gained further to touch the high of Rs 32.25 - a gain of around 5 per cent from the previous close.
The surge in share price comes as shares trade ex-date today for a 10:1 stock split.
Earlier, the Rs 151-crore IPO of the Jaipur-based retail jeweller company received a good response from investors and made a strong debut on bourses. The shares of the company registered a 98 per cent premium against the issue price of ₹55.
Meanwhile, the Sensex and Nifty fell in early trade on Friday amid continuous foreign fund outflows and weak trends in blue-chip stocks Reliance Industries and ICICI Bank.
Market watchers said the Indian market is likely to trade sideways till clarity emerges on corporate earnings, pick up in consumption and foreign fund flows.
Meanwhile, the US Fed has cut rates for two straight meetings as the inflation print has been comfortable.
However, India, on the other hand, is facing sticky food inflation but also lower growth possibilities, they said.
The RBI will be meeting next month to unveil their monetary policy meeting.
The BSE benchmark Sensex fell by 424.42 points to 79,117.37 in early trade. The NSE Nifty declined 132.7 points to 24,066.65.
From the 30-share Sensex pack, Tata Motors, Reliance Industries, Asian Paints, Maruti, NTPC and ICICI Bank were the biggest laggards.
Infosys, Tech Mahindra, HCL Technologies, Titan, Kotak Mahindra Bank and HDFC Bank were among the gainers.
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Updated: Fri, Nov 08, 2024
12:35 PM IST
12:35 PM IST
New Delhi , ZeeBiz WebDesk
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