Massive Growth in Motisons Jewellers Shares Since IPO
In just nine months, Motisons Jewellers shares have witnessed an extraordinary surge. On September 17, 2024, the shares closed at Rs 256.95, a significant leap from the Rs 55 price during the company’s IPO earlier this year. Investors who entered during the IPO have enjoyed massive gains, with the stock price increasing by over 365%. The company’s stock has touched a 52-week high of Rs 273.95, while the low for the same period was Rs 87.10.
Board Meeting on September 19 to Discuss Stock Split
Motisons Jewellers has recently announced through a regulatory filing that its board meeting is scheduled for Thursday, September 19, 2024. The agenda includes a proposal to split the shares. Currently, the face value of the company’s shares stands at Rs 10, and the split will make these shares more affordable and accessible to retail investors. This move has created excitement in the market, contributing to the stock’s strong performance in recent weeks.
Stock Performance in the Last One Month: Up 38%
Motisons Jewellers has shown impressive growth in the last month alone. On August 19, 2024, the stock was trading at Rs 185.70. Fast forward to September 17, 2024, and the price had jumped to Rs 256.95, a rise of over 38%. This momentum is expected to continue, especially with the upcoming board meeting, which might bring even more favorable news for shareholders.
Impressive Gains in 2024: Share Price Up by 155% This Year
The company’s shares have risen sharply throughout 2024, delivering substantial returns to investors. On January 1, 2024, the shares were priced at Rs 100.68. As of September 17, 2024, the price reached Rs 256.95, representing a growth of over 155%. The past six months have been particularly fruitful, with the stock climbing from Rs 137.25 on March 18, 2024, to over Rs 255 in mid-September.
2-Year Performance: Stock Up by 69%
While the company’s recent growth has been remarkable, it’s worth noting that Motisons Jewellers shares have also performed well over the last two years. The stock has risen by 69%, showcasing long-term stability and growth. This makes it an attractive option for both short-term traders and long-term investors alike.
IPO Subscription and Success
The IPO of Motisons Jewellers was a major hit when it was launched. It was oversubscribed a whopping 173.23 times. Retail investors showed significant interest, with the retail quota subscribed 135.60 times. The non-institutional investors (NII) segment saw even more enthusiasm, with the NII quota subscribed 311.99 times. Meanwhile, the qualified institutional buyers (QIB) category was subscribed 135.01 times. This overwhelming response laid the foundation for the stock’s ongoing success in the market.
Motisons Jewellers Poised for Further Growth
With a solid stock performance and the potential stock split on the horizon, Motisons Jewellers seems set for further growth. Investors who were part of the IPO have already seen huge returns, and the company continues to attract attention in the market. As the board meeting approaches, investors are eager to see how the stock split will further impact the share price and trading volume.
