This stock sets record date for 1:10 stock split, up 1,145% from 52-week-low

With a market worth of ₹177.18 Cr, Karnavati Finance Ltd. is a non-banking financial company that operates in the financial services industry. At its meeting conducted on January 3, 2023, the Board of Directors of the company approved a 1:10 stock split, for which the record date has been determined.

The company has fixed 24/02/2023 as the record date for the purpose of 1:10 stock split or sub-division of existing one equity share of the Company having face value of ₹10/- each fully paid will be subdivided/split into 10 equity shares having face value of ₹1/- each fully paid-up.

Karnavati Finance recorded a net profit of ₹0.28 crore for the quarter that ended in December 2022 as opposed to a net loss of ₹0.64 crore for the quarter that ended in December 2021. In Q3FY23, the firm reported net sales of ₹0.69 crore, a 102.94% YoY growth over Q3FY22's net sales of ₹0.34 crore. Karnavati Finance's EPS was ₹0.28 in Q3FY23 as opposed to a loss of ₹0.64 in the same quarter last year.

The shares of Karnavati Finance Ltd closed today on the BSE at an upper circuit limit of ₹176.30 apiece, up by 4.97% from the previous close of ₹167.95. The stock recorded a total volume of 7,245 shares. The stock price climbed from ₹30.50 to the current market price during the past five years, resulting in a multibagger return of 478.03%. The stock price rose from ₹32 to the current market price during the past three years, resulting in a multibagger return of 450.94%. The stock price soared from ₹23.35 to the current market price during the course of the past year, resulting in a multibagger return of 655.03%. The stock has appreciated 1.94% YTD so far in 2023. 

The stock price went from ₹30 to the current market price during the past six months, resulting in a multibagger return of 487.67%. During Q3FY23, the company reported a promoter shareholding of 58.64% and a public stake of 41.36%. The stock touched a 52-week-high of ₹180.05 on (17/01/2023) and a 52-week-low of ₹14.15 (05/04/2022), indicating that at the current market price, the stock is trading 2.08% below the recent 1 year high and 1,145.93% above the 1 year low.