Multibagger stock at 52-week-high level declares stock split, gains 658% YTD

The company has said in a stock exchange filing that “Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable regulation, if any, we hereby inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, January 3, 2023 at 1.00 PM at the corporate office of the Company situated at “Vraj”, 5th Floor, Opp. Hotel President, Near Bhumi Press, Limda Lane, Jamnagar-361001, inter alia, to; i. Recommend Sub-Division / Split of existing equity shares from face value of Rs.10/- per share to Rs. 1/- per share fully paid-up and matters related thereto, subject to the Shareholders and other approvals as may be required. ii. To fix day, date, time and venue for holding the Extra-ordinary General Meeting seeking approval of shareholders for sub-division /Split of Equity Shares of the Company. Further, in accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Company’s Code of Conduct for Prohibition of Insider Trading, the “Trading Window” for trading in the shares of the Company will be closed till the expiring of 48 hours from the outcome of the Board Meeting, for the Directors and Key Managerial Personnel/ Designated Persons/ Connected Persons of the Company.”

The shares of Karnavati Finance Ltd closed on Friday at a new 52-week-high level of ₹157.40 apiece up by 4.97% from the previous close of ₹149.95. The stock recorded a total volume of 3,610 shares. The stock price has risen from ₹10.60 as of 6th February 2015 to the current market price logging in at an all-time high of 1,384.91%. The stock’s price grew from Rs. 27.40 on December 28, 2017, to the current market price, representing a multibagger return of 474.45% over the last five years. The stock value has risen from ₹17.80 as on December 20, 2021 to the current market price during the past year, representing a multibagger return of 784.27%. 

The stock price climbed from ₹20.75 on January 3 to the current market price, recording a multibagger return of 658.55% so far in 2022 on a YTD basis. The stock has produced a multibagger return of 490.62% during the past six months, and it has appreciated by 53.94% over the 1 month. The stock had touched a 52-week-low of ₹14.15 on (05/04/2022), indicating that after hitting a new 52-week-high level on Friday, the stock was seen trading at 1,012.36% above the 1-year low.