The shares of Sky Gold Limited gained as much as 14 percent on NSE to reach a new 52-week high of Rs 311.65. The stock has been rallying after it got listing approval to get listed on the mainboard exchanges.
On January 5th, 2023, the company got listing approval in regard to Migration from the BSE SME Platform to the Main Board of Bombay Stock Exchange Limited and National Stock Exchange Limited.
The stock started trading on NSE on January 6th, 2023 at Rs 224.90 apiece. Since then it has been hitting an upper circuit and has gained 36 percent in just four trading sessions.
Sky Gold Limited has been engaged in the business of designing, manufacturing, and marketing gold jewellery since 2008. It follows a B2B model where the products are mainly sold to mid-range jewellers and boutique stores that sell these products through online platforms and retail stores.
The stock has delivered a multibagger return of 187 percent in the last six months as the share price has risen from Rs 107 a piece in July 2022 on BSE up to the current levels of Rs 302.
The company reported a total revenue of Rs 616.44 Crores which jumped 117 percent Year on Year from Rs 238.48 Crore. They reported a net profit of Rs 6.17 Crore compared to Rs 6.93 Crore in Q2FY22.
The small-cap company has a market capitalization of Rs 329 Crore. The promoters hold a 73.55 percent stake with zero shares pledged.
Written by Anoushka Roy
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