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Senco Gold Rallies 20%

Shares of Senco Gold rallied 20 per cent to Rs 960 on the BSE in Monday's intra-day trade hitting its 52 week high and breaching the previous record of Rs 897 touched on February 27, 2024. The rise in stock price came amid heavy volumes after the company reported 39 per cent year-on-year (YoY) growth in revenue for the March quarter(Q4FY24).

Despite rising gold prices, on a YoY basis the company said it achieved 13 per cent volume growth in Gold and 19 per cent volume growth in diamond in FY24.

The management has an optimistic outlook for the financial year 2024-25 (FY25), starting from Q1FY25 which has local new years (like Poila Baisakh/ Ugadi/ Baisakhi) and Akshay Tritiya starting from 10th May alongwith upcoming marriage season acting as tailwind for growth.

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