Home/ Markets / Stock Markets/  Trading at a discount of 49% from 52-week-high, consumer durable stock approves stock split

Radhika Jeweltech Ltd is a small-cap company with a market capitalization of 348.10 Cr that operates in the consumer discretionary sector. Radhika Jewellers is dedicated to manufacturing the purest gold and genuine diamond jewellery. The firm has announced a stock split for its eligible shareholders, and the record date will be announced soon.

“The equity shares of the Company are listed and traded on the National Stock Exchange of India Limited and BSE Limited. In order to provide enhanced liquidity in the capital market through widening shareholder base and to make it more affordable for small investors having interest, able to invest in the Company’s equity shares, the Board of Directors of the Company in its meeting held on today i.e. March 23, 2023 considered and recommended that it is desirable to sub-divide/split of the existing equity shares of the Company, such that each equity share having face value of Rs. 10/- (Rupees Ten only) fully paid-up, be sub-divided into 5 (Five) equity shares having face value of Rs. 2/- (Rupee Two only) each, fully paid-up, ranking pari-passu with each other in all respects, with effect from such date as may be fixed by the Board as the Record Date (“Record Date"), subject to approval of shareholders of the Company and all concerned Statutory Authority(ies). The shareholders may please note that presently the nominal value of each equity share of the Company is Rs. 10/- (Rupees Ten Only) per share and consequent upon the sub-division, it is being divided into 5 (Five) equity shares of Rs. 2/- (Rupee Two Only) each," said Radhika Jeweltech in a stock exchange filing.

During the quarter ended December 2022 the company recorded a net income of 95.50 Cr compared to 92.04 Cr reported during the quarter ended December 2021. The company's net expenses stood at 80.46 Cr during Q3FY23 compared to 76.96 Cr reported during Q3FY22. Radhika Jeweltech said its EBIT stood at 15.04 Cr during Q3FY23 compared to 15.08 Cr reported during the same quarter of FY22 and its net profit reached 10.86 Cr during Q3FY23 compared to 11.27 Cr reported during the year-ago quarter. The EPS of Radhika Jeweltech stood at 4.60 during Q3FY23 compared to 4.78 during Q3FY22. 

The shares of Radhika Jeweltech Ltd closed on Friday on the BSE at 147.50 apiece level, down by 3.02% from the previous close of 152.10. The stock recorded a total volume average of 4,047 shares and a deliverable volume average of 3,412 shares or 84.31%. The stock touched a 52-week-high of 290.60 on (25/01/2023) and a 52-week-low of 130.00 on (15/11/2022), indicating that at the current market price, the stock is trading 49.24% below the 1-year high and 13.46% above the 1 year low. During Q3FY23, the company recorded a promoter shareholding of 63.73% and a public stake of 36.27%.







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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Updated: 25 Mar 2023, 04:04 PM IST
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