Tara Jewels rose 2.59% at Rs 33.70 at 09:25 IST on BSE, after the company signed an exclusive manufacturing and supply agreement with Sterling Jewelers Inc (USA), for the designer Brand Angel Sanchez.
The announcement was made after market hours yesterday, 22 September 2015.
Meanwhile, the BSE Sensex was down 161.27 points, or 0.63%, to 25,490.57
On BSE, so far 23,965 shares were traded in the counter as against an average daily volume of 15,267 shares in the past one quarter.
The stock hit a high of Rs 34 and a low of Rs 33.20 so far during the day. The stock had hit a record low of Rs 30.65 on 8 September 2015. The stock had hit a 52-week high of Rs 122 on 23 September 2014.
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The company has an equity capital of Rs 24.62 crore. Face value per share is Rs 10.
Sterling Jewelers Inc (USA), a part of Signet Group, is the largest speciality jeweler in USA and UK, for the designer Brand Angel Sanchez. A launch order valued at Rs 29 crore (about $ 4.4 million) has been successfully delivered, Tara Jewels said. The designs are being tested initially in about 60 stores, the company said. Sterling Jewelers Inc (USA) has about 1,400 stores in America, it added.
Tara Jewels' consolidated net profit rose 2.8% to Rs 7.22 crore on 3.1% fall in total income to Rs 311.20 crore in Q1 June 2015 over Q1 June 2014.
Tara Jewels is predominately an exporter of studded diamond jewellery.
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