August 12 Stock News – Motisons Jewellers Sees Positive Share Movement as Board Meeting Approaches
August 12 Stock News – Motisons Jewellers saw its share price trading sideways to slightly positive on Monday, following a significant development. The company has announced a board meeting scheduled for August 14, 2024, to consider and approve a fundraising proposal. The stock opened with an upside gap at ₹172 on the NSE and reached an intraday high of ₹173.90, marking a rise of approximately 2% from Friday’s close of ₹171.
Expert Opinions and Investment Recommendations
Stock market experts highlight Motisons Jewellers as a fundamentally strong stock. Since its listing on the BSE and NSE in December 2023, the company has proven to be a wealth-generating entity. The upcoming fundraising is expected to support the company’s capital expenditure (Capex) expansion. Investors are advised to consider buying Motisons Jewellers shares, with a recommendation to hold the stock with a stop loss set at ₹160.
Share Price Outlook for Motisons Jewellers
Avinash Gorakshkar, Head of Research at Profitmart Securities, recommends Motisons Jewellers for medium to long-term investors. Gorakshkar notes that the stock has shown consistent performance since its December 2023 listing and is likely to benefit from the bullish outlook on gold prices. The planned fundraising will further bolster the company’s financial position. Investors are encouraged to buy at current levels and accumulate shares during significant dips of 4-5%.
Target Prices for Motisons Jewellers’ Shares
Sumeet Bagadia, Executive Director at Choice Broking, anticipates additional upside potential for Motisons Jewellers’ shares. Bagadia points out that the stock has a strong support level at ₹160. Investors should consider purchasing at current levels and continue buying on significant dips. The near-term price targets are set at ₹190 and ₹200, with a recommendation to maintain a stop loss at ₹160.
Company Announcement and Future Plans
Motisons Jewellers informed Indian stock exchanges about its fundraising strategy in an exchange filing on Saturday. The company revealed that its board of directors will meet on August 14, 2024, to discuss raising funds through the issuance of equity shares, convertible instruments, or other securities. This move aims to enhance the company’s financial resources, subject to regulatory approvals and shareholder consent.
FAQ: Motisons Jewellers’ Fundraising and Share Price Update
What recent developments have affected Motisons Jewellers’ share price?
Motisons Jewellers’ share price has seen a 2% increase to ₹173.90 following the announcement of a board meeting scheduled for August 14, 2024. The meeting will focus on considering and approving a significant fundraising proposal.
When is the board meeting for Motisons Jewellers scheduled, and what is its purpose?
The board meeting for Motisons Jewellers is scheduled for August 14, 2024. The primary purpose of the meeting is to discuss and approve a proposal for raising funds through the issuance of equity shares, convertible instruments, or other securities.
What do stock market experts say about Motisons Jewellers’ shares?
Experts highlight Motisons Jewellers as a fundamentally strong stock with potential for long-term growth. They recommend buying shares at current levels and suggest holding them with a stop loss at ₹160. They also advise accumulating shares during significant dips.
What are the price targets for Motisons Jewellers’ stock?
Stock market analysts expect Motisons Jewellers’ share price to potentially reach ₹190 and ₹200 in the near term. Investors are advised to maintain a stop loss at ₹160 while holding any positions in the stock.
What should investors watch for following the board meeting?
Investors should monitor the outcomes of the board meeting, including the specifics of the fundraising proposal and any subsequent changes in the company’s financial strategy. This information will be crucial for assessing the stock’s future performance.
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