Tribhovandas Bhimji Zaveri shares skyrocketed 17.5 percent in trade on September 9, as heavy volumes drove the counter to a fresh 52-week high.
The counter has skyrocketed 63 percent in the past month, while jumping around 130 percent in the past year, more than doubling investors' capital.
At 12.05 pm, the jewellery player's share price was quoting Rs 269 on the BSE, higher by 15.2 percent compared to the previous session's closing price.
So far in trade, over 49 lakh shares exchanged hands in trade on the bourses, almost 100 percent higher than the one-month daily traded average of 26 lakh shares.
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"On September 4, a strong volume breakout established solid daily support at Rs 205.4. Following a two-day consolidation, Tribhovandas Bhimji Zaveri's stock price has broken out further, with the next possible resistance at Rs 292," said A R Ramachandran, Independent Research Analyst.
However, he added that investors should consider booking profits at current levels, as the RSI is at 84. A daily close below the support level of Rs 241 could lead to a correction down to Rs 179 in the coming weeks.
Tribhovandas Bhimji Zaveri reported a 50 percent increase in profit for the first quarter, driven by strong demand for its gold jewelry despite rising prices.
For the quarter ending in June, net profit climbed to Rs 17.05 crore, while sales grew by 4.5 percent to Rs 596 crore. The company's profit margin improved to 7.14 percent from 5.65 percent the previous year, thanks to a focus on higher-margin items.
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