Shares of Senco Gold hit their file excessive on Monday after board of the agency authorized fund elevating as much as Rs 500 crore and a inventory cut up within the ratio of 1:2. Senco Gold inventory zoomed 9.93% to a file excessive of Rs 1544 towards the earlier shut of Rs 1404.45 on BSE. Later, the inventory turned pink amid correction within the broader market. Whole 1.15 lakh shares modified palms amounting to a turnover of Rs 16.71 crore on BSE. Senco Gold inventory has seen very low volatility within the final one yr with a beta of 0.5. It is buying and selling neither close to the overbought zone nor the oversold zone with its relative power index (RSI) at 63.2. An RSI of 70 or above signifies there are extra consumers than sellers for the inventory.
The jewelry inventory is buying and selling decrease than the 5 day, 10 day however greater than the 20 day, 30 day, 50 day, 100 day, 150 day and 200 day shifting averages. The inventory fell to its 52 week low of Rs 576.50 on October 26, 2023.
“That is to tell you that the Board of Administrators of the corporate at their assembly held at present i.e. 4th October 2024, inter-alia thought of and authorized the next issues:
i) Elevating of funds by the use of issuance of Fairness Shares, and/ or securities convertible into Fairness Shares on the possibility of the Firm, for an combination quantity not exceeding Rs. 500 crores (Rupees 5 Hundred crores) by the use of Certified Institutional Placement (“QIP”) or such different permitted means below relevant regulation in a number of tranches and in accordance with the relevant legal guidelines, topic to approval of the shareholders and any regulatory/ statutory approvals, as could also be required.
The main points required as per SEBI Round SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 are enclosed as Annexure A.
ii) Sub-division/ cut up of 1 (one) fairness share having face worth of Rs. 10/- (Rupees Ten) every into 2(two) fairness shares having face worth of Rs. 5/- (Rupees 5) every by alteration of the capital clause within the Memorandum of Affiliation of the corporate together with Articles of Affiliation, in accordance with the relevant legal guidelines, topic to the approval of the shareholders and any regulatory/ statutory approvals, as could also be required,” mentioned the corporate.
“The file date for the aim of the above talked about sub-division/cut up of Fairness shares shall be determined after acquiring the approval of the shareholders and can be intimated sooner or later,” the agency added.
Senco Gold Restricted is an India-based jewelry retailer. The corporate primarily sells gold and diamond jewellery and in addition sells jewellery fabricated from silver, platinum and treasured and semi-precious stones and different metals. The corporate’s different choices additionally embody costume jewellery, gold and silver cash and utensils fabricated from silver. The corporate affords roughly 108,000 designs for gold jewellery and greater than 46,000 designs for diamond jewellery. It additionally affords a wide range of designs of handcrafted jewelry.
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