These four Jewellery stocks have returned up to 230% since last Diwali, What lies ahead?
Kalyan Jewellers India, one of the country's largest jewellery companies, have soared by 230% since last Diwali. The stock initiated its bullish trajectory in July last year and has maintained the same momentum to date, gaining 465%. Also Read: Diwali 2023: What is ‘samvat’ and why does it hold significance for stock market investors? Over the last five months, Kalyan Jewellers stock has achieved successive record highs, with a recent peak on November 09 at ₹359.15 apiece.
Kalyan Jewellers hit the secondary market on March 26, 2021, at ₹75.3 apiece as compared to the issue price of ₹87. At current levels, the stock is trading 288.50% higher than its IPO price. Also Read: Equity vs Gold: What should you invest in this Diwali? Similarly, Thangamayil Jewellery has experienced a substantial surge in its share price, leaping from ₹498 apiece to ₹1,343.75 over the past year, delivering an impressive return of 170% to its shareholders.
This recent stock boom has resulted in a stunning 527% gain over the last three-year period. On October 12, the stock recorded a new historic high of ₹1,524.90 apiece. Also Read: Diwali 2023: How should you trade stocks, gold, commodities during special Muhurat session? Thangamayil Jewellery Limited is in the business of manufacturing and retailing gold ornaments, silver articles, and diamond products and mainly operates out of 54 retail outlets (including TMJL Plus) spread across the southern and western districts of Tamil Nadu.
Meanwhile, Senco Gold, the newly listed stock, has also been moving higher since its listing on July 14, 2023. Considering the current market price of ₹657.40 apiece, the stock is trading 107.40% higher than its IPO price of ₹317. Impressively, in September alone, the
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