Up 800% in a year! This multibagger stock to trade ex-split this week

The company has fixed January 20 as the record date. On Tuesday, the stock closed nearly 5% lower at Rs 152.55 on NSE.

Deep Diamond India has given multibagger returns to investors in the last one year period, rising over 800%. In the last six months, the stock is up about 339%. In the last five years, the stock has surged nearly 1,000%. The scrip has hit a 52-week high and low of Rs 171 and Rs 11, respectively.

Companies announce stock split to increase the liquidity of the stock in the market. On the ex-split date, investors who are holding the stock until the record date will receive the new shares in demat accounts and the stock price will be adjusted according to the split ratio.

Deep Diamond India has also announced its quarterly results recently. The company recorded a net profit of Rs 61 lakh, nearly double the previous year, mainly on the back of lower expenses. It had posted a net profit of Rs 32 lakh during the September quarter.

Expenses during the period were cut down to Rs 73 lakh as against a massive Rs 2.4 crore in the September quarter.

Revenue from operations, meanwhile, declined during the quarter under review to Rs 1.5 crore as against Rs 2.7 crore in the previous quarter.Deep Diamond provides a varied range of 18k real diamond jewellery and solitaires and has been in the business for about 25 years. The company has its own manufacturing facility, which gives it a competitive advantage over other retailers in pricing.

According to the latest shareholding pattern available with the exchanges, promoters own just about 0.08% of the company and the rest 99.92% stake is available with the public.