Tara Jewels surged 11.61% at Rs 110.10 at 15:08 IST on BSE, after the company's subsidiary entered into partnership with Zac Posen to create a new collection of handcrafted fine jewelry.
Meanwhile, the BSE Sensex was up 128.54 points, or 0.47%, to 27,218.96
On BSE, so far 23,262 shares were traded in the counter as against an average daily volume of 2,597 shares in the past one quarter.
The stock hit a high of Rs 114.45 and a low of Rs 99.35 so far during the day. The stock had hit a record low of Rs 80.10 on 19 December 2013. The stock had hit a 52-week high of Rs 142.50 on 27 January 2014.
The small-cap stock had outperformed the market over the past one month till 19 September 2014, rising 11.22% compared with the Sensex's 2.53% rise. The scrip, however, underperformed the market in past one quarter, falling 6.58% as against the Sensex's 7.49% rise.
The company has an equity capital of Rs 24.62 crore. Face value per share is Rs 10.
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Tara Jewels during market hours today, 22 September 2014 said that the company's subsidiary Fabrikant-Tara International has entered into partnership with Zac Posen to create a new collection of handcrafted fine jewelry. The collection is scheduled to launch in Fall 2014 and will be infused with the signature Zac Posen modern American glamour and detailed craftsmanship. The collection will focus on fashion, bridal and bespoke luxury pieces, Tara Jewels said.
Tara Jewels is the parent company to Fabrikant-Tara International, which is an integrated player in the jewelry industry with experience ranging from designing to manufacturing and retailing of jewelry with a portfolio of products that includes studded gold, platinum and silver jewelry. Zac Posen is a globally recognized, leading designer of women's fashion.
Tara Jewels' consolidated net profit fell 39.7% to Rs 7.02 crore on 2.9% fall in total income to Rs 321.25 crore in Q1 June 2014 over Q1 June 2013.
Tara Jewels is predominately an exporter of studded diamond jewellery.
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