Shares of Motisons Jewellers reached a new peak of Rs 287.85 on the Bombay Stock Exchange (BSE) on Wednesday, marking a 12% surge in intraday trading as the company prepared for a board meeting to discuss a potential stock split. By 2:50 PM, the stock was trading at Rs 281.75, up 9.6% from the previous close, contrasting with a minor 0.23% dip in the BSE Sensex.

The company announced on Monday that its board of directors will convene on September 19, 2024, to deliberate on a proposal to subdivide or split the company's equity shares, which currently have a face value of Rs 10 each. The move aims to enhance share liquidity and attract smaller investors by making the shares more accessible.

Since August 7, Motisons Jewellers' stock has surged 101% from Rs 141.85, driven by significant market activity. The dramatic increase followed the board's approval on August 14 to allot 10 million fully convertible warrants at Rs 170 per share to foreign portfolio investors (FPI) and foreign institutional investors (FII), aiming to raise Rs 170 crore. The funds are intended to support long-term growth and expand the company's financial resources.

Motisons Jewellers' FY24 annual report projects steady growth in the jewellery market, driven by rising consumer demand, technological advancements, and evolving preferences. The global jewellery market is anticipated to reach $310.90 billion in 2024, with a compound annual growth rate (CAGR) of 3.53% through 2028. India, the leading revenue generator in the sector, is expected to hit $81.26 billion in 2024, growing at a CAGR of 4.59% over the same period.

Government initiatives such as mandatory hallmarking, the gold monetisation scheme, and reduced import duties on gold and silver are expected to fuel growth in the Indian jewellery market. Additionally, increasing middle-class population, a growing female workforce, and rising demand for both traditional gold and gemstone designs are anticipated to contribute positively to the sector's expansion.