Motisons Jewellers share price: Experts give ’buy’ tag after fundraise move

Stock market today: Motisons Jewellers share price traded sideways to positive on Monday. The jewellery stock was under the radar of Dalal Street Bulls as the company has fixed a board meeting date for considering and approving a fundraising proposal. The jewellery brand has informed the Indian stock market exchanges that the company's board company's meeting has been fixed on 14th August 2024 to consider and approve a fundraising proposal.

Motisons Jewellers' share price today opened with an upside gap at ₹172 apiece on the NSE and touched an intraday high of ₹173.90 per share, logging an intraday rise of around 2 percent against Friday's close of ₹171 apiece.

According to stock market experts, Motisons Jewellers shares are one of those stocks listed on Dalal Street with strong fundamentals. The jewellery stock has remained wealth-generating after listing on BSE and NSE in December 2023. They said that fundraising would enable the company to meet its Capex expansion. They advised fresh investors to buy Motisons Jewellers shares and suggested company shareholders hold the stock with stop loss at ₹160 apiece.

Motisons Jewellers share price outlook

Advising medium to long-term investors to buy Motisons Jewellers shares, Avinash Gorakshkar, Head of Research at Profitmart Securities, said, "Motisons Jewellers has strong fundamentals, and it has remained a wealth creator stock for its shareholders since listing in December 2023. So, long-term investors can bet on the stock as the outlook for the gold price is still bullish, and the company may benefit from its buffer stock of physical gold. Apart from this, the company has announced fundraising, which is expected to meet the Capex expansion of the company. So, those with medium to long-term view can buy this stock at current market price and continue adding on big 4-5 percent dips."

Motisons Jewellers share price target

Expecting further upside in Motisons Jewellers shares, Sumeet Bagadia, Executive Director at Choice Broking, said," The jewellery stock has a strong base at ₹160 apiece. One can buy the scrip at current levels and continue adding on big dips for the near-term target of ₹190 and ₹200. However, one must maintain a stop loss at ₹160 while holding any position in the scrip.

Motisons Jewellers news

In an exchange filing on Saturday, Motisons Jewellers informed the Indian exchanges about the fundraising move, saying, "We hereby inform you that the meeting of the Board of Directors of Motisons Jewellers Limited ("the Company"") is scheduled to be held on Wednesday, August 14, 2024, inter-alia to consider the proposal for raising of funds to augment the financial resources of the company, by the issuance of equity shares, convertible instruments, any other securities by any of the permissible means, in one or more tranches as may be decided by the Board, subject to such regulatory/statutory approvals as may be required including the approval of shareholders of the company."

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.