Senco Gold hits new high; zooms 86% in 8 weeks on strong earnings hope

Gold prices moved southwards in Q2 based on muted gold demand globally and in lndia, which also helped in volume growth, Senco Gold said.

Shares of Senco Gold hit a new high of Rs 746.55, surging 10 per cent on the BSE in Friday’s intra-day trade on the back of heavy volumes amid expectations of strong earnings. The stock of jewellery retailer surpassed its previous high of Rs 721.65 touched on October 20.

In past eight weeks, the stock has zoomed 86 per cent from a level of Rs 401 on September 9. The market price of Senco Gold has more-than-doubled or skyrocketed 136 per cent from its issue price of Rs 317 per share. The company had raised Rs 405-crore through initial