Renaissance Jewellery at 20% UC

Renaissance Jewellery is shining bright today. It had closed yesterday at Rs.229.05 and opened at Rs.243 today to soon hit the 20% UC at Rs.274.85. Its 52-week high is at Rs.276.30.

The market is thrilled to bits with its Q2FY18 performance. It posted a 129% (YoY) jump in net profit at Rs.17 crore on a 34% rise in revenue at Rs.383 crore. Operating profit was up 65% at Rs.27 crore.

The company has stated that the gold making unit in Dubai is what contributed to this performance. Also the company’s focus on higher margin business including lease arrangements too helped.

For FY18, the company expects consolidate sales to grow by 18 to 20% and net profit to increase 40-50%. Now that’s a very robust outlook! No wonder the stock is locked on UC