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New Delhi: Motisons Jewellers’ shares climbed 5 per cent on Friday, November 8, after the stock turned ex-split in a 1:10 ratio. This means that each existing share was divided into 10 new shares. The stock price, which closed at Rs 307 in the previous session, was adjusted to Rs 30.7 per share after the split, later reaching a high of Rs 32.2.
Motisons Jewellers, listed on the stock exchanges since December 2023, has seen substantial gains, with its stock price soaring nearly 500 per cent to date. The company, specializing in gold, diamond, and kundan jewellery, also offers products made from pearls, silver, and platinum.
Indian Jewellery Market
The Indian jewellery market is projected to grow steadily, reaching an estimated $81.26 billion by 2028, driven by increased disposable incomes, a rising middle class, and growing demand for branded jewellery. This growth is further supported by government initiatives like mandatory hallmarking, the gold monetisation scheme, and reduced import duties on gold and silver. Additionally, the organized retail sector is seeing a shift in customer preference due to the benefits of hallmarking, modern designs, and better shopping experiences.
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Motisons Jewellers Q2 Results: Revenue And PAT
Motisons Jewellers has capitalized on these market trends. For the September 2024 quarter, the company reported revenue of Rs 109 crore, up from Rs 90 crore in the same quarter last year. Profit after tax (PAT) also saw a jump, reaching Rs 10 crore from Rs 5.18 crore a year earlier.
The company’s stock split comes at a time when gold-related stocks have gained traction, driven by sustained demand for gold, rising prices, and inventory appreciation, which has benefited organized jewellery players like Motisons Jewellers. Additionally, as more consumers opt for organized retail stores over unorganized options, companies like Motisons are well-positioned to grow in this evolving market.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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