India's Sky Gold hits record high on acquiring Starmangalsutra, Sparkling Chains

Tribhovandas Bhimji Zaveri

24/06/2024 05:52

** Shares of Sky Gold  SKYG.NS  rise 5% to 1,528.60 rupees,
hitting a record high and its upper circuit
    ** Jewellery maker acquires two firms, Starmangalsutra and
Sparkling Chains, for a consideration of 499.8 million rupees
(~$6 million) 
    ** Stock on track for fourth consecutive session of gains
    ** Stock up 50% YTD compared to peers Tribhovandas Bhimji
Zaveri  TBZL.NS  which is down ~4% YTD while Kalyan Jewellers
India  KALN.NS  is up 25%


($1 = 83.5280 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))