Senco Gold shares hit 5% upper circuit for third consecutive day as promoter raises stake

Senco Gold

Senco Gold shares jumped 5 percent to remain locked in the upper circuit at Rs 275 apiece on March 20. This comes after the company announced that its promoter has bought 80,400 shares of the company.

In an exchange filing released on March 19, Senco Gold announced that its promoter Jai Hanuman Shri Siddhivinayak Trust has acquired the equity shares representing 0.05 percent of the total paid up share capital of the company through the open market on March 18. The said acquisition has taken the promoter's stake in the company to 41.31 percent from its earlier 41.26 percent stake.

The total stake held by all promoters and promoter group in the company increased to 64.22 percent from the earlier 64.17 percent following the transaction, as per data released by the company.

Notably, Senco Gold shares have seen significant surge recently, being locked in the upper circuit for three consecutive sessions. The stock has rallied nearly 16 percent over the three days. This comes after a strong decline in share price which led to the stock hitting a 52-week low of Rs 227 on March 17. The shares have so far fallen over 51 percent in the last one year.

Senco Gold's peer stocks also recorded strong gains on March 20. Kalyan Jewellers shares jumped over 2 percent to close at Rs 464 apiece, while those of Titan Company were up over 3 percent to close at Rs 3,183 apiece. P N Gadgil Jewellers shares however bucked the trend to close in the red with marginal losses at Rs 530 apiece.

Notably, this comes as gold prices hit record highs, amid uncertainties over US President Donald Trump's tariffs.