Rajnish Retail Ltd’s board members recently announced a stock split during their Monday board meeting. However, this decision is pending approval from the company’s shareholders.
The record date for the stock split will be determined later, as per the company’s latest exchange filing. On Tuesday, the company’s shares experienced a 5% decline, reaching Rs 87.40.
Details of the Stock Split
In their communication to the Indian stock exchanges, Rajnish Retail Ltd disclosed, “The Company has approved a sub-division of shares in the ratio of 1:5, pending approval from the company’s members
and other regulatory bodies. The exact date will be shared with the stock exchanges once the members’ approval is obtained.”
Rajneesh Retail Share Performance
Over the years, Rajneesh Retail shares have demonstrated significant growth in the Indian stock market. Starting from ₹21, the small-cap stock has soared to ₹87.40 per share, marking a remarkable 300% increase in a year.
Notably, the stock has surged by 36% year-to-date and 57% over the past six months. Over the last twelve months, it has witnessed an impressive 320% growth.
Remarkably, this multibagger stock has surged by a staggering 12,000% over the past five years, with its price escalating from 72 paise to its current level.
Expanding Business Ventures
Rajneesh Retail Limited recently expanded its business portfolio by venturing into the beauty and wellness industry with the inauguration of a new salon.
This strategic move aims to capitalize on the burgeoning market opportunities and diversify the company’s operations.
The company’s brand, Urban Salon, has inaugurated a new outlet in Evershine Nagar, located in the Malad district of Mumbai.
