India's TBZ sees best week after GRT Jewellers deal
04/09/2026 10:37
BUZZ-India's TBZ sees best week after GRT Jewellers deal ** Shares of Tribhovandas Bhimji Zaveri TBZL.NS jump 60% this week, their biggest weekly gain on record, and hit an all-time high of 480.85 rupees
** GRT Jewellers to acquire a controlling stake of 74.12% from top shareholders of TBZ for 10.34 billion rupees ($109.03 million)
** Acquisition will trigger a mandatory open offer for an additional 26% stake under India's takeover regulations
** Combined entity would have better standing in the market, along with a stronger regional brand image, said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities
** YTD, TBZL up ~191%
(Reporting by Anuran Sadhu in Bengaluru)
((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))
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