SENCO GOLD: Senco Gold soars 10% on strong Q4 update, approaches yearly peak
The Senco Gold retail company said 28 percent growth in this fiscal year 2024-2025, 39% growth in quarter ended March 2024. Senco opened 23 showrooms this year,totally 159 showrooms opened so far.
On April 15th, shares of Senco Gold surged over 4 percent following the release of its business update, which highlighted notable financial achievements. The company reported a remarkable 28 percent revenue growth for the fiscal year 2023-24, with an impressive 39 percent year-on-year growth for the quarter ending March 2024.
SENCO GOLD Market Price is moving in Ascending channel and market has rebounded from the higher low area of the channel
Despite the upward trajectory of gold prices, Senco Gold managed to achieve a significant 13 percent increase in gold volume and a notable 19 percent rise in diamond volume for the entire fiscal year. While the surge in gold prices affected unorganized jewellers, organized listed jewellers like Senco Gold continued to thrive, the company noted.
However, the surge in gold prices led to a tightening of working capital availability due to higher margins for Gold Hedging and Gold Metal Loan (GML), according to Senco’s business update. The percentage of old gold exchange as a part of Senco Gold’s sales increased to 32 percent from 29 percent the previous year, with a commendable same-store-sales growth (SSSG) of 19 percent throughout the year.
Despite these successes, Senco Gold acknowledged challenges ahead, particularly the recent spike in gold prices due to escalating geopolitical tensions in the Middle East, which dampened demand. The company’s first-quarter performance is contingent on ongoing buying trends during festive and auspicious New Year celebrations. To address this, Senco Gold has implemented various measures, including a focus on diamond-studded gold jewellery and consumer-centric schemes.
However, these efforts may not fully offset the 15-20 percent decline in volume experienced in March and April. In FY24, Senco Gold expanded its footprint significantly, launching 23 new showrooms, including four in the January-March quarter, bringing its total showroom count to 159, marking its largest expansion since inception.
RPOWER: Reliance Power transfers wind project to JSW Energy; stocks decline
The reliance Power has sold its 45MW Wind Power project to JSW Energy for renewable energy resources at Rs. 132.39Cr deal.
RELIANCE POWER Market Price is moving in Ascending channel and market has fallen from the higher high area of the channel
On April 15th, during morning trading on the National Stock Exchange (NSE), shares of Reliance Power experienced a nearly 5 percent decline. This dip followed the company’s announcement of the successful completion of the slump sale of its 45 MW Wind Power Project in Vashpet, Maharashtra, to JSW Renewable Energy.
In a regulatory filing dated April 12, Reliance Power disclosed the finalization of the slump sale/transfer of its wind power project to JSW Renewable Energy (Coated) Limited. The consideration for this transaction amounted to Rs. 132.39 crore. Earlier reports from March 27 indicated that JSW Renewable Energy (Coated), a wholly-owned subsidiary of JSW Neo Energy and a step-down subsidiary of JSW Energy, had agreed to acquire the renewable energy generation capacity from Reliance Power.
This transaction follows Reliance Power’s earlier move in January 2024, when it announced the signing of an agreement to sell its 1,200 MW Kalai II hydroelectric project in Arunachal Pradesh to THDC India for Rs 128.39 crore. The purpose behind these agreements was to monetize the hydroelectric power project.
The ISMT company wins 2 contracts from ONGC worth of Rs.343.72 cr for casting gas pipes project started from April 2024 and completed in February 2025.
ISMT Market Price is moving in Ascending channel and market has rebounded from the higher low area of the channel
On April 15th, during early trading hours, the share price of ISMT (Indian Seamless Metal Tubes Limited) experienced a 3% increase. This surge came in response to the company’s recent success in securing two significant contracts from Oil and Natural Gas Corporation Limited (ONGC). Announced on April 12th, these contracts entail the provision of regular casing pipes, amounting to a substantial sum of approximately Rs 343.72 crore.
The execution timeline for these contracts spans from April 11, 2024, to February 13, 2025.
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