Thangamayil Jewellery surged 17.95% to Rs 219.80 at 14:55 IST on BSE after SBI Mutual Fund acquired an additional 2.60% stake in the company through bulk deals on NSE on Friday, 5 December 2014.
Meanwhile, the BSE Sensex was down 315.07 points, or 1.11%, to 28,143.03.
On BSE, so far 25,000 shares were traded in the counter, compared with an average volume of 528 shares in the past one quarter.
The stock hit a high of Rs 223.60 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 196 so far during the day. The stock hit a 52-week low of Rs 105.75 on 14 May 2014.
The stock had underperformed the market over the past one month till 5 December 2014, rising 1.33% compared with 1.94% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 3.56% as against Sensex's 5.30% rise.
The small-cap company has an equity capital of Rs 13.72 crore. Face value per share is Rs 10.
Also Read
SBI Mutual Fund on Friday, 5 December 2014, increased its stake in the company to 4.69% by purchasing additional 3.57 lakh shares at Rs 190 each through two separate bulk deals on NSE.
In the first bulk deal, SBI Mutual Fund bought 1.57 lakh shares and in the second bulk deal, it bought 2 lakh shares. Both the deals were struck at Rs 190 per share.
As of September 2015, SBI Small and Midcap Fund held 2.09% stake or 2.86 lakh equity shares in Thangamayil Jewellery.
SBI Mutual Fund acquired shares from N Ramachandran, one of the biggest shareholders of Thangamayil Jewellery, who reduced its shareholding in the jewellery firm to 1%. He sold 4.50 lakh shares, or 3.27% stake, at Rs 190 a share. As of September, N Ramachandran held 5.86 lakh shares, or 4.27% stake, in the jewellery company.
Thangamayil Jewellery reported net loss of Rs 12.45 crore in Q2 September 2014 as against net profit of Rs 0.60 crore in Q2 September 2013. Net sales rose 38.89% to Rs 334.37 crore in Q2 September 2014 over Q2 September 2013.
Thangamayil Jewellery is one of the leading jewellery retailers in Madurai, Tamil Nadu. The company trades in gold jewellery, diamond and platinum jewels.
Powered by Capital Market - Live News