Sky Gold Ltd Shares Surge 360% in 2024, Bonus Shares Announced at 9:1 Ratio
Adding to the excitement, Sky Gold has announced a lucrative bonus issue for its eligible shareholders. For every single share held, shareholders will receive 9 bonus shares, with a record date already fixed.
Sky Gold Ltd a gems and jewelry company backed by renowned investor Ashish Kacholia, has been grabbing market attention. On Wednesday, the company’s stock rose 3% during trading to touch ₹4,520, marking its 52-week high. This stock has skyrocketed by an impressive 360% this year alone, establishing itself as one of the top performers in the market.
Adding to the excitement, Sky Gold has announced a lucrative bonus issue for its eligible shareholders. For every single share held, shareholders will receive 9 bonus shares, with a record date already fixed.
Bonus Shares: The Big Announcement
Sky Gold informed the stock exchanges that the record date for its bonus shares, offered at a 9:1 ratio, has been set for Monday, December 16, 2024. This means investors holding one share of the company on this date will receive nine additional shares at no extra cost.
The announcement has positively influenced investor sentiment. Coupled with robust earnings in the second quarter of the financial year, Sky Gold’s stock has become a hot pick in the market.
Sky Gold’s Stellar Market Performance
Sky Gold’s stock performance has been nothing short of remarkable:
- 52-Week High/Low: ₹4,542 (high) and ₹902.10 (low).
- 6-Month Performance: A significant 270% increase in stock value.
- Year-to-Date Growth: The stock has climbed 355% since January 2024, when it was trading at ₹996.
Prominent investor Ashish Kacholia, via Bengal Finance and Investment Private Limited, is among the key public shareholders. As per the September 30, 2024, shareholding data from the Bombay Stock Exchange (BSE), Bengal Finance owns 2,52,900 equity shares, amounting to a 1.73% stake in Sky Gold Ltd.
Sky Gold’s Strong Financial Performance in Q2 FY25
Sky Gold’s financials for the second quarter of FY25 reflect an extraordinary performance:
- Net Profit: Skyrocketed by 405.2% year-on-year, reaching ₹36.7 crore.
- EBITDA: Witnessed a massive 154.3% growth to ₹38.8 crore.
- Revenue: Climbed by 94.2% year-on-year to an impressive ₹768.8 crore.
Such strong financial growth has instilled confidence among investors, driving the stock’s phenomenal rally.
Successful Fundraising through QIP
During Q2 FY25, Sky Gold raised approximately ₹270 crore through Qualified Institutional Placement (QIP). This funding attracted renowned institutions such as:
- Motilal Oswal Small Cap Fund
- Kotak Mahindra Life Insurance
- Bank of India Flexi Cap Fund
These funds will enable Sky Gold to further strengthen its operations and expand its market presence.
Key Highlights
- Bonus Shares: Announced at a lucrative 9:1 ratio.
- Record Date: December 16, 2024.
- Investor Spotlight: Ashish Kacholia holds a significant stake via Bengal Finance.
- Stock Surge: Over 360% growth in 2024.
- Strong Financials: Profit and revenue growth of over 400% and 94%, respectively, in Q2 FY25.
Sky Gold’s exceptional performance and shareholder-centric decisions make it a stock to watch as it continues to outperform market expectations.
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