PremiumWith a market valuation of ₹1,131.58 Cr., Rajnish Wellness Ltd. is a small-cap company that engages in the pharmaceutical industry. Rajnish Wellness is a company that manufactures and sells numerous ayurvedic medicines for its customers' personal wellness. In order to determine the shareholders' eligibility for the stated corporate action, the company's board of directors established a record date for the 1:2 stock split.
The company has said in a stock exchange filing that “we would like to inform to the exchange that Board of the Directors of the Company have fixed on Tuesday, 10thJanuary 2023 as the 'Record Date', for ascertaining eligibility of shareholders entitled for corporate action of - 1. Sub-division/split of equity shares of the company, 1 (One) equity share having face value of Rs.2/- (Rupees Two only) each into 2 (Two) equity shares of Re. 1/- (Rupee One only)."
Recently on 24th December, Rajnish Wellness said in an announcement that it has received in-principle approval from Eastern Railway for setting up business centres at 500 plus stations across Tier I, II and III cities. According to Mr. Rajnish Kumar Singh, MD the company has chalked out huge expansion for its division 'Dava Discount' Franchisee outlets. Rajnish Wellness Limited has initiated Exclusive Dava Discount brand and works on Franchisee model and offers a discount of Flat 25% on all branded medicine all over India with home delivery. The company has reached a figure of more than 80 franchisee outlets at various locations within Mumbai.
The shares of Rajnish Wellness Ltd closed today on the BSE at ₹29.60 apiece level, up by 0.17% from the previous close of ₹29.55. The stock recorded a total volume of 4,60,460 shares. The stock produced a phenomenal multibagger return of 2,060.15% over the course of the previous year, and on a YTD basis, the trend has continued to provide a multibagger return of 623.72% so far in 2022. The stock had touched a 52-week-high of ₹31.00 on (28/12/2022) and a 52-week-low of ₹1.30 on (04/01/2022), indicating that at the current market price the stock is trading 2,176.92% above the 1 year low and 4.51% below the recent 1 year high. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 16.05% and a public stake of 83.95%. At today's closing price the stock was seen trading above 5, 10, 20, 50, 100 and 200 days Simple Moving Average (SMA).