Thangamayil Jewellery has rallied 12% to Rs 283, also its record high, after the company said it is opening its 23rd branch at Thirunelveli tomorrow (November 02, 2012). The showroom is spread across 2970 square feet.
The apparels and accessories maker has outperformed the market by gaining 35% in past two weeks compared to 1.5% fall in benchmark Sensex.
Meanwhile, the research firm CRISIL in its recent report said that sales volume of the company is expected to pick up in Q3 (October-December) with the beginning of festive and wedding seasons.
“The company added three stores (13% of total area) in Q2FY13, taking the total number of stores to 22 (44,000 sq ft). With the opening of four new stores in the next six to eight months it will reach the 50,000 sq ft mark (total stores: 26),” the report suggests.
The stock opened at Rs 252 on the Bombay Stock Exchange and has seen a combined 229,622 shares have changed hands on the counter so far on both the exchanges.
