Thangamayil Jewellery shares hit the upper circuit limit in February 25 trade, tracking optimism over the company's business growth after it informed the exchanges on earning Rs 16 crore opening-day sales at its news Chennai showroom.
"On the opening day, 23rd February,2025(Sunday) of our T. Nagar Showroom, Chennai, We have sold to the tune of Rs.16.12Crs.of our Gold, Silver, Diamond and other articles with a footfall around 7,250 due to overwhelming response from our esteemed customers," the company said in an exchange filing on February 24.
The shares of Thangamayil Jewellery Ltd advanced 20 percent to hit an intraday high of Rs 1,863.05 per share on the NSE. The stock has gained after 7 days of consecutive fall.
The gold jewellery store chain posted a standalone net sales of Rs 1132.46 crore for the December quarter, higher by 26 percent on year, while the net profit was reported at Rs 48.19 crore, up 72 percent on year.
The EBITDA came in higher by 63% on year at Rs 83.2 crore, the company informed in an exchange filing on February 5.
Thangamayil shares up 8% but off highs after strong Q3 net profit, rights issue approved
The board had also approved a rights issue of up to Rs 510 crore at a price of Rs 1,400 per share in the ratio of 2:15, for which the record date has been set at February 11, 2025. The issue will open between February 21 and March 4, 2025.
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