Precious prices jumped after investors sought shelter in safe havens after the US and Israel attacked Iran over the weekend, adding to worries for equity investors
Sky Gold and Diamonds Ltd on Monday reported more than twofold jump in consolidated profit to Rs 80.53 crore for the December quarter. Its net profit stood at Rs 36.53 crore in the year-ago period. Total income rose to Rs 1,775.12 crore during the October-December period of the fiscal year from Rs 1,005.09 crore in the corresponding period of the preceding year, according to a regulatory filing. Established in 2008, Mumbai-based Sky Gold and Diamonds Ltd is a B2B jewellery manufacturers, specialising in lightweight, design-led and studded jewellery. The company serves India's leading jewellery retailers and is expanding into global markets.
Titan delivered a strong quarter with its core jewellery business growing 18.8 per cent year-on-year (Y-o-Y), backed by 14 per cent like-to-like (LTL) growth.
The buying on the counter came after the company's subsidiary Starmangalsutra approved a proposal to enter into a non-binding agreement to acquire a 51 per cent stake in Shri Rishab Gold
In the past one year, Sky Gold's shares have gained 11 per cent, as compared to Sensex's rise of 0.68 per cent
Smallcap shares Sky Gold, Voltamp Transformers, Blue Jet and Eimco Elecon shed up to 23% last month as promoters pared stake; Yes Bank, however, surged 11%. Here's a technical outlook on these stocks.