Two multibagger penny stocks to trade ex-split in next four days

RO Jewels and Continental Securities, which have given multibagger returns to investors in the last few years, will trade ex-split in the next four days. RO Jewels will trade ex-split on March 17 and Continental Securities on March 20.

RO Jewels had earlier announced to split its shares in the ratio of 1:5 and fixed March 18 as the record date to determine the eligibility of the shareholders for the proposed split.

A stock split is usually done to increase the liquidity of the stock in the market. On the ex-split date, investors who are holding the stock until the record date will receive the new shares in demat accounts and the stock price will be adjusted according to the split ratio.

RO Jewels is engaged in the wholesale business of gold and silver chains based out of Ahmedabad. The company sells gold-based chains, bracelets, gold/silver bars and necklaces. It procures gold and
silver majorly through the bullion market and partially from the local markets in Ahmedabad.

The company purchases only readymade chains and other jewellery from the jewellery manufacturers or independent jewellery wholesalers in Ahmedabad and Mumbai and then sells them. Its jewellery is widely sold throughout Gujarat and has a diversified portfolio of chains.

Shares of RO Jewels have risen by a massive 675% in 2022. So far this year, the shares are down 47.03%.

Meanwhile, Continental Securities too proposed to split its shares in the proportion of 1:5 and fixed March 20 as the record date for the same. The shares of the company surged 509% in the last 5 years.

On a year-to-date basis, the stock is down about 10%. Continental Securities operates as a non-banking financial company serving customers in India. The company invests in securities, inter-corporate loans, and advances