Palm Jewels hits new 52-week high on expanding business outside Gujarat
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Palm Jewels is currently trading at Rs. 31.35, up by 2.85 points or 10.00% from its previous closing of Rs. 28.50 on the BSE.
The scrip opened at Rs. 28.75 and has touched a high and low of Rs. 31.35 and Rs. 28.05 respectively. So far 611020 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 31.95 on 15-Sep-2021 and a 52 week low of Rs. 11.35 on 19-Jul-2022.
Last one week high and low of the scrip stood at Rs. 31.35 and Rs. 20.50 respectively. The current market cap of the company is Rs. 31.48 crore.
The promoters holding in the company stood at 53.58% and Non-Institutions held 46.42%.
Palm Jewels is expanding business outside Gujarat i.e., in Chennai, Coimbatore, Tirupur and various other places in Tamil-Nadu. Recently the company got new orders from the clients based outside Gujarat. The company established leading positions in the gold and silver ornaments in Gujarat and now aiming across India. The new clients added to business leading to increase market share outside Gujarat also resulting into expansion of business.
Palm Jewels are engaged in the wholesale business of gold jewellery.
