The country's stock market has been down since Monday morning. However, during all this, the stocks of a jeweler's firm have witnessed a remarkable increase. The shares of Senco Gold were up by more than 12 percent in early trading on Monday at Rs. 326. Naturally, this remarkable rise in the stock price has attracted quite a bit of attention. However, why would the stock of Senco Gold rise this way in a declining market?
According to market analysts, the main factor responsible for such an increase is the impressive financial performance of the company in the last quarter of the previous financial year. The earnings of the firm showed a substantial increase in the initial three months of 2026.
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It rose by 46 percent compared to the same period last year. During this period, the jewellery company also performed well during Valentine's Day and Women's Day. Along with this, the company's same-store sales growth (SSSG) increased by 34 percent, indicating strong growth.
Strong growth and acquisition plans boost sentiment
Besides the financial performance, Senco Gold's overall business position has also improved during this period. The company opened seven additional showrooms. As a result, Senco Gold now has stores in 201 locations. Additionally, the board has approved a proposal to acquire 68 percent of August Jewellery Private Limited (AJPL). Experts believe this is another reason for the surge in the stock.
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Market experts are also optimistic about the company. Antique Stock Broking has maintained a 'buy' rating on Senco Gold's stock, although it has reduced the target price to ₹528. Despite market volatility over the past year, the company's share price has increased by more than 11 percent.
{News Ei Samay does not provide investment advice. Investment and trading in the stock market or any other field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
