The price of gold and silver in the country is steadily rising, but there is no shortage of those who buy gold and silver jewelery. An example of this was seen in Chennai, when a showroom of Thangmayil Jewelers Company was open. In the information given to the exchange, the company said that in the opening day of the showroom, there was a sale of jewelry worth Rs 16 crore. As soon as this news came in the stock market. The company’s shares reached 20 per cent upper circuit.
At the end of the trading, Thangamayil Jewelry company shares closed at Rs 1,863.05 with 20 per cent firm on NSE. The company said, ‘On February 23, 2025 (Sunday), on the inauguration of our T. Nagar showroom, Chennai, we sold gold, silver, diamond and other things worth Rs 16.12 crore. During this time about 7,250 customers were involved. This is a tremendous shopping of customers.
8.5 times money in five years
After the news of excellent shopping, the shopping in the company’s shares also increased rapidly. There was a crowd of stock buyers one after the other. On seeing this, this share (Thangamayil Jewelry Share) rose 20 percent to Rs 1,863.05. In the last six months, this stock has climbed only 1 percent. At the same time, there has been a rise of 44 percent in a year. Whereas during the five years, the price of this stock has risen by 753%. That is, in five years it has made the money 8.5 times.
How was the company’s sale in December quarter
The company’s quarterly results have also been excellent. The company has done a good sale in the declining market. The company recorded a standalone net sales of Rs 1132.46 crore for the December quarter, which is 26 percent more on an annual basis. During this period, the company’s net profit was Rs 48.19 crore, which is 72 percent growth on an annual basis.
The company also approved the rights issue
The company told the exchange on 5 February that Ebita has increased by 63 per cent to Rs 83.2 crore on an annual basis. The board has also approved the rights issue of up to Rs 510 crore at a price of Rs 1400 per share at a ratio of 2:15, for which the record date has been fixed at 11 February 2025. This issue will open between 21 February to 4 March 2025.
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