Stock market news: Motisons Jewellers Shares Rise By Neraly 4% As Company Shares Annual Report

Stock market update: On Thursday, a tidal wave of excitement hit the stock market as the share prices of Motisons Jewellers skyrocketed by a striking 4%. The sudden increase was a result of the annual report revealing a positive financial performance, where the firm’s yearly revenue jumped to a handsome Rs 41.71 crore in 2023-24, leaving behind the previous year’s numbers at Rs 36.68 crore. There was more good news. The net profit for the recent year saw its own climb, reaching Rs 3.22 crore, quite the leap from the past year’s Rs 2.21 crore.
The stock has risen 87 per cent year to date after listing with a huge premium of over 98 per cent against the issue price of Rs 55 in December last year. Motisons Jewellers’ initial public offer was subscribed a whopping 159.61 times on the last day of share sale on Wednesday.
A retail jewellery firm based out of Jaipur recently pulled off an impressive initial public offering (IPO), raking in a staggering 151 crores. The shares, carefully priced between 52 to 55 rupees each, drew considerable investor interest. For this particular public issue, the company decided to go with 2.74 crore newly minted equity shares, while notably leaving out any Offer For Sale (OFS) options.