Senco Gold's share price surged 10% after the company's board announced a stock split and plans to raise to ₹500 crore. The stock split will convert each ₹10 share into two ₹5 shares, marking the first such move since Senco went public in July 2023. This stock split news has sparked interest among investors looking to invest in stocks, as it makes Senco's shares more accessible to a broader base of investors.
The stock split and fundraising plans
The split was part of the company's larger strategy, which also includes raising ₹500 crore through Qualified Institutional Placement (QIP) or other methods. The record date for this stock split is yet to be determined and will follow shareholder approval. With Senco Gold's share price climbing to a 52-week high on the BSE, it presents an exciting opportunity for those who want to invest in stocks with growth potential.
Senco's stock opened at ₹1,432.55 per share and touched an intraday high of ₹1,544. Analysts predict continued positive momentum, with support at ₹1,350 and a potential rise to ₹1,600. The company's strong fundamentals and execution have been highlighted by brokerage firm Emkay Global, which reiterated its BUY rating for Senco with a target price of ₹1,600 for September 2025.
Analysts' views on Senco Gold's growth
Market analysts are optimistic about Senco's long-term prospects despite potential short-term consolidation. Rajesh Bhosale of Angel One noted the stock's uptrend, encouraging a positive outlook for those looking to invest in stocks like Senco Gold. However, some caution is advised as short-term momentum indicators have reached overbought levels, and a period of consolidation could follow.
Key takeaways
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