Tribhovandas Bhimji Zaveri gained 1.18% to Rs 128.65 at 9:50 IST on BSE after the company announced the opening of 36th store and 5th franchise store at Bhopal, Madhya Pradesh today, 13 October 2017.
The announcement was made before market hours today, 13 October 2017.Meanwhile, the S&P BSE Sensex was up 178.02 points, or 0.55% to 32,360.24. The S&P BSE Small-Cap index was up 73.62 points, or 0.44% to 16,977.27, underperforming the Sensex.
On the BSE, 6,522 shares were traded in the counter so far, compared with average daily volumes of 1.48 lakh shares in the past one quarter. The stock had hit a high of Rs 128.80 and a low of Rs 126.90 so far during the day. The stock had hit a 52-week high of Rs 135 on 8 September 2017. The stock had hit a 52-week low of Rs 56.10 on 26 December 2016.
The stock had outperformed the market over the past one month till 12 October 2017, gaining 4.39% compared with the Sensex's 0.07% rise. The stock had also outperformed the market over the past one quarter, gaining 38.06% as against the Sensex's 1.19% rise. The scrip had also outperformed the market over the past one year, surging 46.4% as against the Sensex's 14.6% rise.
The small-cap company has equity capital of Rs 66.73 crore. Face value per share is Rs 10.
Tribhovandas Bhimji Zaveri said that retail area of the store is around 1,850 square feet and with the addition of this store, the total retail space of the company will increase to 1.12 lakh square feet spread across 27 cities in 11 states.
The franchise store will be operated on franchisee owned franchisee operated model wherin the entire store inventory would be on the books of the franchisee. The will help TBZ-The Original to scale up its domestic operations and presence at a faster pace in an asset light manner.
Net profit of TBZ rose 159.1% to Rs 5.83 crore on 37.2% rise in net sales to Rs 443.90 crore in Q1 June 2017 over Q1 June 2016.
TBZ sells gold and diamond studded jewellery through retail outlets.
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