World · India Bureau
Tribhovandas Bhimji Zaveri shares surge past ₹480 on strong market momentum
Shares of the jewellery retailer hit a fresh record high on Friday, nearly doubling the price offered during its recent public offering and posting substantial gains over a four-day period.
LSN India ·
Tribhovandas Bhimji Zaveri Ltd's stock reached ₹480.85 on Friday, marking a significant milestone for the jewellery company following its public offering. The surge represents a 93% premium over the open offer price of ₹249.61 per share, reflecting strong investor interest in the retail chain.
The four-day rally has added considerable momentum to the stock, which has climbed 107% from its August lows. The rally underscores growing investor appetite for established jewellery retailers as consumer spending on precious metals and ornaments remains robust in the Indian market.
The company, which operates a network of jewellery stores across India, has benefited from increased foot traffic and consumer confidence in the retail sector. The strong performance also comes as gold prices remain volatile, yet jewellery demand continues to hold steady, particularly ahead of the festive season.
The stock's trajectory since its public offering suggests sustained confidence in the company's business model and growth prospects. Analysts attribute the momentum to the jeweller's established brand presence and expanding retail footprint across major Indian markets.