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RBZ Jewellers shares rise 79% in 2024; up 132% from listing price

RBZ Jewellers shares rise 79% in 2024; up 132% from listing price

RBZ Jewellers shares, which listed at Rs 100 on BSE and NSE hit a high of Rs 232 in early trade today. RBZ Jewellers stock zoomed 9.92% intraday to Rs 232 against the previous close of Rs 211.05 on BSE.

Aseem Thapliyal
Aseem Thapliyal
  • Updated Jan 12, 2024 12:09 PM IST
RBZ Jewellers shares rise 79% in 2024; up 132% from listing price Shares of RBZ Jewellers opened higher at Rs 227.95 on BSE. RBZ Jewellers shares have gained 79% since the beginning of this year.
SUMMARY
  • The jewellery retailer’s IPO was held from December 19 to December 21, 2023.
  • The price band of the IPO was Rs 95-100 per share. Shares were offered in a lot size of 150 shares.
  • The stock hit the upper circuit of 20% in each of the two preceding sessions.

Shares of RBZ Jewellers Ltd have delivered 132% returns since they made a tepid market debut on December 27 last year. The stock, which listed at Rs 100 on BSE and NSE hit a high of Rs 232 in early trade today. RBZ Jewellers stock zoomed 9.92% intraday to Rs 232 against the previous close of Rs 211.05 on BSE. Market cap of the firm rose to Rs 869.20 crore. 

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The stock hit an upper circuit of 20% in each of the two preceding sessions. Shares of RBZ Jewellers opened higher at Rs 227.95 on BSE. RBZ Jewellers shares have gained 79% since the beginning of this year. Total 5.59 lakh shares changed hands amounting to a turnover of Rs 12.40 crore on BSE. Market cap of the firm rose to Rs 874.80 crore.

The jewellery retailer’s IPO was held from December 19 to December 21, 2023.  The price band of the IPO was Rs 95-100 per share. Shares were offered in a lot size of 150 shares.  

The company raised Rs 21  crore from anchor investors on December 18. The firm reported a 55 percent year-on-year growth in net profit at Rs 22.33 crore for the fiscal ended March FY23 backed by margin performance.

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Revenue rose 14.2 percent in FY23 at Rs 288 crore on a year on year basis. The EBITDA (earnings before interest, tax, depreciation and amortisation) rose 41 percent to Rs 37.8 crore with margin expansion of 249 bps at 13.11 percent during the same period.

The company raised Rs 100 crore through its initial public offering of 1 crore equity shares.  

RBZ Jewellers Limited is a gold jewellery manufacturer specialising in the creation of antique designs. The company designs and manufactures a wide range of antique gold jewellery consisting of jadau, meena and kundan work and sells it on a wholesale and retail basis.

 

 

 

Also read: Stock recommendations by analyst for January 12, 2024: RVNL, Exide Industries and LT Foods

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Also read: Union Bank, Bank of India, PNB, UCO Bank, IOB shares rally up to 6%, lead BSE PSU index gainers 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Jan 12, 2024 12:09 PM IST
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