This 'B' group stock is locked in 5% upper limit today; check reasons here

The surge in the Ashapuri HGold Ornament share price came after the company announced that it has entered into an agreement with Titan Company (Titan)

Ashapuri Gold Ornament share price: Ashapuri Gold Ornament share price was locked in the 5 per cent upper circuit at Rs 8.61 per share on Tuesday, November 12, 2024. 

 

The surge in the Ashapuri Gold Ornament share price came after the company announced that it has entered into an agreement with Titan Company (Titan).

 

In an exchange filing, Ashapuri Gold Ornament, said, “We are pleased to announce that the Company has entered into an agreement for supply of Gold Jewellery to the Titan Company Limited(“Titan”).”

 

Under the terms of the order, Ashapuri Gold Ornament will be responsible for supplying Gold jewellery during the term as per the purchase order raised by Titan during the term.

 

 

All orders from August 1, 2024 until July 31, 2026 will be covered under this contract, Ashapuri Gold Ornament said.

 

“This is a contract for supply of gold jewellery as per the orders placed by the Titan during the term of Contract. Hence, there is no exclusive amount mentioned in the contract,” the company explained.

 

Incorporated in 2008, Ashapuri Gold Ornament Ltd (AGOL) specialises in the manufacturing and trading of a diverse range of gold ornaments and jewellery designs. Initially focused on wholesale trading, the company has since expanded its business to include retail, offering a rich variety of jewellery collections to meet the evolving preferences of its customers. The company's headquarters and primary showroom are located on CG Road in Ahmedabad, spread across 2,945 square feet.

 

Its offerings include three main jewellery collections, which include the Pota Jewelry Collection, the Kundan Jewelry Collection, and the Ghat Jewelry Collection. The product range spans various categories, including necklaces, bangles, bridal jewellery, chokers, and pendant sets. The company designs products in-house and through third-party designers and has its jewellery manufactured on a job-work basis primarily in Ahmedabad and Rajkot. 

 

To support its growing operations, AGOL has a production unit at its Navrangpura premises in Ahmedabad, with a manufacturing area of approximately 2,194 square feet. The company’s clients include prominent jewellery retailers such as Tanishq, Malabar Gold & Diamonds, Joyalukkas, and Bhima.

 

The market capitalisation of the company is Rs 286.98 crore, according to BSE.

 

At 9:36 AM, shares of Ashapuri Gold Ornament  continued to remain locked in the 5 per cent upper cricut. In comparison, BSE Sensex was trading 0.07 per cent higher at 79,555.08 levels.