Back-to-back upper circuits: Mauritius-based fund picks up stake in this small-cap jewellery stock!
On Monday, the scrip froze at an upper price band of Rs 42.15 on BSE
As per the bulk deal data from bourses, Mauritius-based Vikasa India EIF I Fund - Incube Global Opportunities has purchased 51,000 equity shares of S. M. Gold Limited on Friday, September 23, 2022.
The equity shares of the BSE listed jewellery company were bought at an average price of Rs 40.15 per share. The transaction is valued at about Rs 20.5 lakh.
Shares of S. M. Gold have hit consecutive 5 per cent upper circuits for five trading sessions, recording gains of 27.73 per cent. On Monday, the scrip froze at an upper price band of Rs 42.15 on BSE.
S. M. Gold is engaged in the manufacturing of traditional and skilled handmade jewellery for a wide range of customers, including marquee clients such as Malabar Gold and Diamonds and Kalyan Jewellers, to name a few.
The company has an in-house team which designs the Mangalsutra as well as other jewellery in traditional, modern and Indo-western styles. The company's principal business is manufacturing and trading of the Mangalsutra jewellery.
Other than this, the company is also engaged in designing of other jewellery items like rings, chain, earrings, nose-rings, nose pins, anklets, toe rings, pendants, bangles, bracelets and more.
Promoters of the company Priyank Shah and Pulkitkumar Shah have 13 years and 11 years of experience in gems and jewellery industry, respectively.
Keep a close eye on this trending Small-Cap jewellery stock in the upcoming trading sessions to reap the benefits.