Home / Markets / Stock Markets /  This stock is a watch with high promoter holding for 1:1 bonus shares

With a market worth of 165.99 Cr, Sky Gold is a small-cap company that belongs to the consumer discretionary industry. Since 2008, Sky Gold Limited has been in the business of creating, producing, and distributing gold jewellery. The firm has a production facility in Mulund (West) of Mumbai, as well as the main sales office in Kalbadevi and branch locations in Kerala and Telangana. The firm crafts jewellery out of 22 Karat gold, offers a wide selection of styles, and embellishes many of its creations with American diamonds and/or coloured stones. The corporation has changed the record date from the previously set 2nd September 2022 to the 3rd September 2022 in accordance with the Board of Directors' declaration of a bonus share in a 1:1 ratio.

The company has said in a regulatory filing that “This is further to our above-referred letter wherein the Company had informed that the Shareholders had vide Ordinary Resolution through Postal Ballot approved issuance of Bonus Shares in the ratio of 1:1 ie. 1 (One) equity shares having face value of Rs. 10/- each for every 1 (One) equity share having a face value of Rs. 10/- each held by the Shareholders of the Company. In that regard, please note that pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that the revised date 3rd September2022 has been fixed as the Record Date for the purpose of determining the Shareholders who shall be eligible for allotment of bonus equity shares."

Sky Gold Bonus Share Details
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Sky Gold Bonus Share Details (bseindia.com)

The shares of Sky Gold Ltd closed on Friday at 310.00 apiece, up by 12.73% from the previous close of 275 per share. In the last 5 years, the stock has gained 71.46% and in the last 1 year, the stock has gained 63.63%. On a YTD basis, the stock has surged 55.00% so far in 2022 and has gained 29.17% in the last 6 months. In the last 1 month, the stock has gained 27.05% and in the last 5 trading sessions, the stock has gained 25.89%. Sky Gold has a promoter holding of 73.55% which is higher compared to its peers such as Titan Company, Rajesh Exports, Kalyan Jewellers, Vaibhav Global, PC Jeweller, Goldiam International Ltd and Thangamayil Jewellery Ltd. The company has a book value of Rs. 128.80 per share, and at the present market price, the stock is selling at 2.40 times its book value, which may be viewed as cheap when compared to some of its well-known competitors, such as Titan and Vaibhav Global.


Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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