Multibagger stock declares 1:4 bonus issue & 1:10 stock split, up 145% in 1 year

The company said in a stock exchange filing that its Board of Directors considered and approved the “1. Approval for stock split (sub-division of equity shares) of Company’s 01 (One) equity share of face value of Rs. 10/- each into 10 (Ten) equity shares of face value of Rs. 01/- each, subject to the approval of shareholders to be obtained by Postal Ballot and other approvals as may be required. In this respect the record date shall be decided by the board and will be intimated to exchange. 2. Issuance of Bonus issue of equity shares in proportion of 01 (one) equity share of Rs. 01/- each for every 04 (Four) equity shares of Rs. 01/- each held by the shareholder of the Company as on record date, subject to the approval of shareholders by Postal Ballot. In this respect the record date shall be decided by the board and will be intimated to exchange.”’

In order to encourage wider participation of retail and small investors by making the share price more affordable, as also to enhance the liquidity of the equity shares at the stock markets, said Kenvi Jewels in a stock exchange filing by citing the reason behind stock split and bonus issue.

During Q3FY23, the company reported a net income of ₹22.02 Cr and its net expenses stood at ₹21.85 Cr for the quarter ended December 2022. Kenvi Jewels said its EBIT stood at ₹0.17 Cr and the company said its net profit reached ₹0.08 Cr during Q3FY23. The EPS of Kenvi Jewels stood at ₹0.08 during Q3FY23.

On Friday, the shares of Kenvi Jewels Ltd closed on Friday at a 5% upper circuit limit of ₹58.83 apiece level. The stock recorded a total volume of 1,723 shares. The stock has produced a multibagger return of 352.54% over the past three years and a multibagger return of 530.55% over the past five years. It produced a multibagger return of 145.64% during the past year, and YTD, it has returned 44.90% in 2023. 

It has appreciated 53.60% over the past six months and 28.17% during the past month. The stock touched a 52-week-high of ₹58.83 on (17/03/2023) and a 52-week-low of ₹20.20 on (18/04/2022). During Q3FY23, the company reported a promoter shareholding of 65.10% and a public stake of 34.90%.