Multibagger Senco Gold Stock Price Climbs At New Record High Amid Stock Split and Fund Raising Plan

Senco Gold Share Price: The stock of gems and jewelery company Senco Gold Stock has reached a record high in the trading session of Tuesday, October 1, 2024. The stock opened at Rs 1478 in the morning and has reached an all-time high of Rs 1544 with a jump of about 8 percent. The reason for the rise in shares is the information given by the company to the exchange in which the company said that in the board meeting to be held on October 4, the company will consider raising funds along with stock split.

Board meeting on 4th October

In a regulatory filing with the Stock Exchange, Senco Gold said that a meeting of the Board of Directors of the company has been called on October 4, 2024 in which the decision to raise funds by issuing equity shares through preferential issue, private placement or qualified institutional placement or through other means is taken. Will be discussed. After this, shareholders and other regulatory approvals will also be taken. In the board meeting, the proposal for sub-division or split of existing shares with face value of Rs 10 will be discussed and approval will be taken from the board.

Stock gave 390 percent return since IPO

Cenko Gold stock has proved to be a multibagger stock for investors. Senco Gold's IPO came in July 2023 and the company raised money from the market at an issue price of Rs 317. The stock priced at Rs 317 has made a high of Rs 1544. That means in just 15 months the stock has given a return of 387 percent to its shareholders. The stock has increased by 114 percent in the year 2024 and by 141 percent in a year. The market cap of the company has reached Rs 11,572 crore.

Brokerage house bullish on stocks

The market cap of the company has reached Rs 11,572 crore. Recently many brokerage houses have been bullish on Cenko Gold stock. The brokerage house has advised investors to buy the stock of Senco Gold. Emkay Global has given a target price of Rs 1600 for the stock.

Disclaimer: (The information provided here is for informational purposes only. It is important to note here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. ABPLive.com It is never advised for anyone to invest any money here.)

read this also

Gold Loans: Negligence is being taken in giving gold loans, RBI instructed financial institutions to take action.