Senco Gold shares rose by an astounding 10% in early trade today, reaching a high of Rs 1,544 on the NSE for the day. This increase comes after the business announced on Friday that its board had approved a 1:2 stock split and a qualified institutional placement (QIP) of Rs 500 crore.
The board of directors of jewelry retailer Senco Gold approved raising up to ₹500 crore through Qualified Institutional Placement (QIP) and dividing one equity share into two, the company announced on Friday.
Senco plans to divide one equity share, worth ₹10 at present, into two equity shares, each worth ₹5. Senco’s first stock split since going public in July 2023 will occur with this one. The record date for the aforementioned sub-division/split of equity shares will be decided upon upon obtaining shareholder approval and will be notified in due course, the business said in an exchange filing.
Senco Gold Share 2024
The stock immediately reached a 52-week high of ₹1,544, showing the favorable response to the news, after opening at ₹1,432.55 on the BSE. Analysts predict that Senco Gold’s share price will continue to rise in the near future. As the stock gets closer to its resistance levels, some experts predict short-term correction despite the current trend. However, the company has performed much better than its competitors; in the last year, its share price increased by 129.9%, outpacing the growth of the sector by more than 82%.
Senco Gold Share Price
The price of a share of Senco Gold was Rs 1404.45 on Friday of last week, down 0.7% on the BSE. The market value of the company was Rs 10,915.73 crore. Senco’s stock price increased by around 102% year to date. In contrast, the stock has increased by 120% in a year.
Senco Gold Financials Performance
Senco Gold Ltd’s revenue climbed by 8% from Rs 1,304 crore in Q1FY24 to Rs 1,415 crore in Q1FY25, according to an analysis of the company’s financial performance. In the same time frame, net profit rose from Rs 28 crore to Rs 53 crore, an 89 percent rise.
