There has been a lot of volatility in the prices of gold in the recent past. Meanwhile, the shares of companies selling gold jewellery have also jumped a lot. From PC Jewellers to Asian Star Company, the shares are running at a stormy pace. The reason behind the recent rise in these stocks can be a news in which it has been estimated that there may be a big jump in the revenue of the jewelers industry this financial year. After this, the shares of the jewellery firm have been rocketing.
Jewelers’ revenue will increase with increasing demand!
First of all, let’s talk about the CRISIL report, which says that in the first budget of Modi 3.0, on July 23, Finance Minister Nirmala Sitharaman announced a reduction in custom duty on gold and silver, after which gold suddenly became cheaper and there has been a huge increase in gold sales in the country. It has been estimated that the revenue of jewelers may increase by 22 to 25 percent from gold sales in the current financial year. As soon as this report came out, there has been a huge jump in the shares of companies selling gold jewelry.
PC Jewellers Share
The shares of PC Jewellers, a company selling gold jewellery, rose by about 5 percent in the last trading day and reached a high of Rs 129.30. On Tuesday, after opening with a gain, in just 15 minutes of trading, it jumped by about 7 percent to reach the level of Rs 133.80, which is its new high level.
Asian Star Share
Along with PC Jewelers, another company of this sector, Asian Star Company Limited (Asian Star Company Share) gained such momentum after the market opened that it jumped more than 13 percent to touch the level of Rs 996.70. The share of this company with a market cap of Rs 1440 crore opened at Rs 873.95 when trading started in the stock market.
TBZ Share
The next company doing business of gold jewellery is Tribhuvandas Bhimji Zaveri (TBZ), whose shares have been rising since the decision to reduce custom duty during the presentation of Modi 3.0’s first budget and since then it has jumped by 116 percent, that is, investors’ money has doubled in this period. On Tuesday also, TBZ Share saw a strong rise. After opening at Rs 272, it ran at a stormy pace and jumped more than 4 percent and reached Rs 284.85, which is its 52-week high level.
These 2 stocks also jumped
Apart from this, if we look at the shares of other companies of this sector, then Vaibhav Global Share jumped by 2.65 percent after opening at Rs 310.50 and reached the level of Rs 316.65. Apart from this, Senco Gold Share is also trading with a gain of more than one percent.
(Note- Before making any investment in the stock market, please consult your market experts.)
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