Manoj Vaibhav Gems N Jewellers Shares Jumps 7%; Should You Bet?

Shares of Manoj Vaibhav Gems N Jewellers surged 7 per cent on Monday. The stock opened in red at Rs 307.15 as against the previous close of Rs 309 on Thursday. The positive sentiments on the both the exchanges helped the stock which surged 6.94 per cent to hit an intraday high of Rs 330.45.

The Stock has been gaining for the last 2 days and has given 6.6 per cent returns in the period. With this, the company now has a market cap of Rs 1,563 crore.

The stock has a 52-week high of Rs 382.20 and a 52-week low of Rs 202.05.

Vaibhav Jewellers reported a 30 per cent YoY rise in the net profit to Rs 41.40 crore in the half year ended on September 30, 2023, compared to a bottomline of Rs 31.75 crore in the year ago period.

Manoj Vaibhav Gems 'N' Jewellers, also known as Vaibhav Jewellers, is a regional jewelry brand in South India. Incorporated in 2003, the company offers gold, silver, and diamond jewelry, precious gemstones, and other jewelry products through retail showrooms and online channels.

Vaibhav Jewellers' caters to the economic segments of the micro markets of Andhra Pradesh and Telangana in both rural and urban areas.