Motisons Jewelers shares continued their winning streak for the ninth consecutive trading session on Wednesday, hitting a new all-time high of ₹189 per share. The stock was locked in the 20% upper circuit limit.
In the previous trading session as well, the stock touched the 20% upper circuit limit after the company’s shift from the “Business for Business segment” (T-Group) to the “rolling segment”.
As a result of this change, the trading of the company’s equity shares has now shifted under the B Group, according to recent media reports.
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Motisons Jewelers Stock Trend
In the past eight trading sessions, the stock has shown a remarkable growth of 68.50%. With the current trading price of ₹189 per share, the overall gain reached an impressive 102% within just nine trading sessions.
The company’s shares made a stellar debut on December 26, 2023, on the Indian stock exchanges, opening at ₹109 per against the IPO price of ₹55 per Then, it ended the first day with an impressive 88.3% gain at ₹103.5.
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At current levels, the stock is trading 243.63% higher than its issue price. The ₹151 crore IPO of Motisons Jewelers was opened between December 18 and December 20. The IPO garnered extraordinary investor interest, receiving a subscription rate of 159 times, Trendlyne data showed.
The company is engaged in the business of selling jewelery made of gold, diamonds, and kundan. In addition, the company also sells jewelry such as pearls, silver, platinum and other precious and semi-precious metals.
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In terms of its product offering and positioning, Motisons offers traditional, contemporary and combination designs across various jewelery lines. In terms of finances, the company posted a net profit of ₹22 crore in FY23, an improvement of 46.66% over the FY22 net profit of ₹15 crores. The income from operations in FY23 grew by 16.56% to ₹366 crore as compared to ₹314 crore in FY22.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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Published: 10 Jan 2024, 14:47 IST