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Business News/ Markets / Stock Markets/  Small-cap stock jumps 9% after stock market rebound

Small-cap stock jumps 9% after stock market rebound

Small-cap stock extended its early morning gains after a trend reversal on Dalal Street

The board of directors of the small-cap company has approved the incorporation of its subsidiary company. (Photo: Pixabay)Premium
The board of directors of the small-cap company has approved the incorporation of its subsidiary company. (Photo: Pixabay)

Stock market today: Despite volatiletrends in the Indian stock market today, the broad market is still attracting bulls' interest. The small-cap index is trading green by logging a nearly 0.50 percent gain against its Wednesday close whereas the mid-cap index is up by over 0.62 percent during Thursday deals. Among various small-cap stocks, Rushil Decor share is one of those small-cap stocks that has outperformed key benchmark indices.

Despite weak stock market trends in the early morning session, Rushil Decor share price today opened upside at 336.50 apiece and went on touch an intraday high of 365 per share levels on NSE, logging an intraday rise to the tune of 9 percent against its Wednesday close of 335.95 per share. The small-cap stock with a market cap of 963 crore is still trading close to its intraday high.

Rushil Decor share price history

The small-cap stock has been under sell-off heat after ushering in the new year 2024. The small-cap stock has lost to the tune of 7 percent in YTD time, whereas in the last one month, it has lost a little over one percent. So, the small-cap stock is trying to come out of the base building mode. After remaining in 335 to 350 range for nearly one week, the small-cap stock finally managed to breach its upper range during Thursday deals and made an intraday high of 365 per share.

Also Read: Salasar-RVNL JV emerges as lowest bidder; shares jump

Rushil Decor news

In its latest exchange filing, Rushil Decor Ltd has informed Indian stock market exchanges that its board of directors has considered and approved to incorporation a subsidiary company Modala Panels And Boards.

The small-cap company informed about the incorporation saying, "With reference to the captioned subject and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requkements) Regulations, 2015, this is to inform you that the Board of Directors of the Company at its, meeting held on today i.e. 22nd day of February 2024 has accorded its approval to incorporate a Subsidiary Company ("Proposed Company") by entering into a Joint Venture Agreement with Modala Panels and Boards through its proprietor Mr. M.N. Rao."

The small-cap stock is available for trade on BSE and NSE. Its current market cap is around 963 crore and its current trade volume is nearly 3.71 lakh. The 52-week high of this small-cap stock is 406.90 per share whereas its 52-week low on the NSE is 204.31 per share.

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

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 22 Feb 2024, 03:19 PM IST
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