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Jewellery stocks surge up to 100% on strong demand
3 Min Read India's Jewellery stocks have been shining bright over the last one month, led predominantly by the mid-sized and the smaller names, including the recent listings. Shares of Tribhovandas Bhimji Zaveri (TBZ) have already doubled in value over the last one month, having gained 101%, while those of recent listings Lalithaa Jewellers, PC Jewellers have also surged up to 60% and 40% respectively over the same timeframe.
Tribhovandas Bhimji Zaveri shares surge 58% in four days
Tribhovandas Bhimji Zaveri soars 58% in 4 days; zooms 107% from Aug low TBZ share price hit a new high of ₹480.85 on Friday, surging 93% over its open offer price of ₹249.61 per share. Listen to This Article Tribhovandas Bhimji Zaveri share price movement Tribhovandas Bhimji Zaveri (TBZ) share price was locked at the 10 per cent upper circuit at ₹480.85 on the National Stock Exchange (NSE) in Friday’s intra-day deals with only buyers seen on the counter.
TBZ shares surge 38% in two sessions on GRT Jewellers deal
TBZ shares have extended their rally to a second session, climbing over 38% in two days and hitting record highs after the company announced a stake deal with GRT Jewellers. The market is reacting positively to the strategic partnership, which has sparked optimism about TBZ's growth prospects. The stock has repeatedly hit the upper circuit limit, indicating strong buying momentum.
GRT Jewellers to buy 74.12% TBZ stake; shares hit 20% upper circuit
GRT Jewellers has agreed to acquire a 74.12% stake in TBZ, triggering a mandatory open offer at a steep discount to the market price. Despite the discount, TBZ shares have surged 20% to hit the upper circuit, reflecting investor optimism about the acquisition. The open offer price and the strategic rationale behind the deal remain key points of interest.
GRT Jewellers to acquire 74% stake in Tribhovandas Bhimji Zaveri
India's Tribhovandas Bhimji Zaveri said on Monday GRT Jewellers would take a controlling stake in the jewellery retailer for up to ₹1,034 crore ($108.66 million). GRT Jewellers will acquire a 74.12% stake from the top shareholders of the 162-year-old brand, subject to regulatory approvals. The acquisition will also trigger a mandatory open offer for an additional 26% stake under India's takeover regulations.
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Six triggers why Jewellery stocks surged up to 100% in a month and the opportunities ahead - CNBC TV18
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