TBZ spurts after tie up with Snapdeal

Tribhovandas Bhimji Zaveri rose 11.95% to Rs 137.70 at 13:16 IST on BSE after the company said it has tied up with Snapdeal to sell its diamond jewellery and gold coins online.

The announcement was made during trading hours today, 8 October 2015.

Meanwhile, the BSE Sensex was down 200.19 points, or 0.74%, to 26,835.66.

On BSE, so far 1.36 lakh shares were traded in the counter, compared with an average volume of 20,552 shares in the past one quarter.

The stock hit a high of Rs 144 and a low of Rs 122 so far during the day. The stock hit a 52-week high of Rs 187.80 on 29 January 2015. The stock hit a 52-week low of Rs 110 on 24 August 2015.

The stock had outperformed the market over the past one month till 7 October 2015, rising 4.86% compared with 8.60% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 16.72% as against Sensex's 4.03% decline.

The small-cap company has an equity capital of Rs 66.73 crore. Face value per share is Rs 10.

Tribhovandas Bhimji Zaveri (TBZ) said that it has tied up with Snapdeal, India's leading online marketplace, to offer TBZ's diamond jewellery and gold coins on Snapdeal's online marketplace.

The company presents an exquisite range of diamond jewellery and gold coins on Snapdeal. TBZ - The Original's diamond jewellery range of rings, earrings, pendants, bracelets and gold coins will be available and accessible to discerning buyers on Snapdeal at affordable prices, TBZ said in a statement.

Net profit of Tribhovandas Bhimji Zaveri rose 423.08% to Rs 2.72 crore on 3.81% decline in net sales to Rs 415.80 crore in Q1 June 2015 over Q1 June 2014.

TBZ sells gold and diamond studded jewellery through retail outlets.

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