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Jewellery stocks in focus; Thangamayil Jewellery, TBZ hit 52-week high

Thangamayil Jewellery soared 20% to Rs 347 after reported profit of Rs 9.62 crore in Q1.

SI Reporter  |  Mumbai 

Jewellery, gold
Gold jewellery displayed at a shop in Delhi. Photo: Reuters

Shares of gems & jewellery companies  moved higher by up to 20% on BSE after posted a strong set of numbers for the quarter ended June, 2017 (Q1FY18).

Besides Thangamayil Jewellery, Tribhovandas Bhimji Zaveri (TBZ), Gitanjali Gems, Tara Jewels, Rajesh Exports and Renaissance Jewellery were also up between 2% and 7% on BSE. By comparison, the S&P BSE Sensex was up 0.38% or 123 points higher at 32,351 at 12:27 pm.

hit a 52-week high of Rs 347, up 20% on BSE, after the company more than doubled its net profit at Rs 9.62 crore in Q1FY18, on the back of strong volume growth. It had profit of Rs 4.51 crore in the same quarter year ago.

Net sales of the company during quarter under review increased by 50% to Rs 434 crore against Rs 289 crore in the corresponding quarter of previous fiscal.

“Volume in gold ornaments products during the quarter rose 49% to 1,241 kgs as against 832 kgs in previous year quarter. Volumes in silver products increased 34% to 5.9 tonnes from 4.4 tonnes,” said in a release.

The stock of is currently trading close to its record high of Rs 351, touched on December 6, 2012 in intra-day trade.

too hit a 52-week high of Rs 109 on BSE on the back of two-fold jump in trading volumes. A combined 1.33 million shares changed hands on the counter on BSE and NSE so far.

COMPANY LATEST PREV CLOSE GAIN(%)
THANGAMAYIL JEW. 341.80 289.00 18.3
T B Z 106.75 101.05 5.6
GOLKUNDA DIAMOND 18.90 18.00 5.0
ZODIAC-JRD MKJ 46.50 44.30 5.0
GITANJALI GEMS 64.35 62.40 3.1
RENAISSANCE JEW. 180.60 175.30 3.0
GOENKA DIAMOND 0.35 0.34 2.9
RAJESH EXPORTS 715.65 703.15 1.8
TARA JEWELS 32.25 31.80 1.4
GOLDIAM INTL. 81.50 80.85 0.8
SRS 3.05 3.03 0.7
WHITE ORGANIC 57.00 56.70 0.5
VAIBHAV GLOBAL 520.95 519.15 0.4
TITAN COMPANY 538.00 536.20 0.3

First Published: Wed, July 26 2017. 12:46 IST
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