 "Jewellery stocks in focus; Thangamayil Jewellery, TBZ hit 52-week high")
Shares of gems & jewellery companies moved higher by up to 20% on BSE after Thangamayil Jewellery 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.
Thangamayil Jewellery 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,” Thangamayil Jewellery said in a release.
The stock of Thangamayil Jewellery is currently trading close to its record high of Rs 351, touched on December 6, 2012 in intra-day trade.
TBZ 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.
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.
Thangamayil Jewellery 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,” Thangamayil Jewellery said in a release.
The stock of Thangamayil Jewellery is currently trading close to its record high of Rs 351, touched on December 6, 2012 in intra-day trade.
TBZ 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 |
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%