Buoyed by the significant jump in sales and net profit, the shares of Madurai-based jeweller Thangamayil Jewellery Ltd (TJL) hit their 52-week high on the back of good trading volume on the NSE and the BSE on Tuesday.
While the sales have shown a near 60 per cent growth, the net profit had gone up by about 42 per cent in the first quarter of current fiscal compared to the corresponding quarter in the previous year.
The company’ s Q1 sales was Rs 358.40 crore this year compared to Rs 223.11 crore in the first quarter of last year. The net profit showed a similar trend. It was Rs 15.13 crore in the first quarter this year as against Rs 10.69 crore in the same period last year. The EPS was up at Rs 11.03 (Rs 7.76). The company had opened four new branches in the quarter ending June this year.
On the NSE, the shares of TJL touched the 52-week high of Rs 214 before retracting to Rs 197.10 at close, still up by Rs 15.80 or 8.71 per cent. The counter recorded a trading volume of 1.13 lakh shares.
On the BSE, the stock closed at Rs 198, a gain of Rs 16.80 or 9.27 per cent. The stock touched a 52-week high of Rs 211 before ending lower, with a trading volume of about 48,600 shares.