Stock market: NSE, BSE were also surprised to see the movement of this multi-beagger stock.

New Delhi. Today i.e. September 9, shares of Tribhundas Bhimji Zaveri (TBZ) saw strong buying. The purchase led to an 18% intraday rise in the company’s share price. This stock has been growing rapidly for some time now. In late August, the stock exchange had also sought a response from the company regarding the major changes in TBZ’s share price. Shares of TBZ opened with a gain of ₹ 236.90 on BSE today. After that, it strengthened by 18% from the previous closing price and touched a high of ₹ 275.90. This is a new 52-week high for the stock. TBZ’s upper price band is at ₹280.10 with a 20 percent circuit limit. At the end of trading, shares of TBZ closed at ₹269.95, up 15.6%. The company has a market cap of ₹ 1,800 crore.

As of the end of June 2024, the promoters held 74.12 per cent stake in the company. Share prices have recorded a 31% rise in just 5 business days. The stock has gained 65% in the last one month. Similarly, the share price increased by 141% during six months. TBZ’s multi-bagger shares have given investors a return of 135% in one year. This stock has given investors a return of 111% in the year 2024.

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The stock market had sought a response from TBZ on the rise in share prices.
In late August, the stock exchange had sought a response from TBZ regarding major changes in share prices. In its clarification, the company said that it has no price sensitive information or announcement pending to the stock markets. The company also clarified that it does not know the reason for the large fluctuations in share prices. It is completely market based and depends on many factors like market conditions. The management of the company is not involved in any way in raising the share prices.

50% increase in TBZ profit
TBZ’s consolidated net profit increased 50% to ₹17.04 crore in the April-June 2024 quarter. The profit was ₹ 11.36 crore a year ago. TBZ’s total revenue during the quarter also increased to ₹597.23 crore on a year-on-year basis, from ₹571.81 crore in the June 2023 quarter.

(Disclaimer: The information given here is based on share performance. As investing in stock market is subject to market risk, please consult a certified investment advisor before investing. News 18 Hindi becomes responsible for any damages you incur.)

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