TBZ’s consolidated net profit increased by 50 percent in the first quarter. Total income also increased on an annual basis to ₹597.23 crore.The price of this share increased by 141 percent in six months.
New Delhi. Strong buying was seen in the shares of Tribhuvandas Bhimji Zaveri (TBZ) today i.e. on 9th September. Due to this buying, the share price of the company jumped up to 18 percent in intraday. This stock has been on a strong rise for some time. At the end of August, the stock markets had also sought a response from TBZ regarding the major changes in the share price. Today, the share of TBZ opened with a gain of ₹ 236.90 on BSE. After this, it strengthened by 18 percent from the previous closing price to reach a high of ₹ 275.90. This is the new 52-week high of the stock. The upper price band of TBZ is at ₹ 280.10 with a 20 percent circuit limit. At the end of trading, the share of TBZ closed at ₹ 269.95 with a gain of 15.6 percent. The market cap of the company is ₹ 1,800 crore.
By the end of June 2024, the promoters held 74.12 per cent stake in the company. In just 5 trading days, the share price has registered a growth of 31 per cent. In the last one month, this stock has climbed 65 per cent. Similarly, in six months, the price of this stock has increased by 141 per cent. In one year, TBZ’s multibagger stock has given 135 per cent profit to investors. In the year 2024, this stock has given 111 per cent return to investors.
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The stock market had sought a response from TBZ on the share price movement
At the end of August, the stock markets had sought a response from TBZ regarding the major changes in the share price. The company said in its clarification that there is no price sensitive information or announcement from its side which is yet to be given to the stock markets. The company also clarified that it does not know the reason for the huge fluctuations in the share prices. It is completely market driven and depends on many factors such as market conditions. The management of the company is not involved in the share price movement in any way.
TBZ profit increased by 50%
TBZ’s consolidated net profit increased by 50% to Rs 17.04 crore in the April-June 2024 quarter. This profit was Rs 11.36 crore a year ago. TBZ’s total income also increased on an annual basis to Rs 597.23 crore during this quarter, from Rs 571.81 crore in the June 2023 quarter.
(Disclaimer: The information given here is based on the performance of the stock. Since investing in the stock market is subject to market risk, please consult a certified investment advisor before investing. AyraNews24x7 Hindi will not be responsible for any loss you may incur.)
Tag: Business News, Money making tips, Multibagger Stocks, Stock Market
first published : September 9, 2024, 5:53 PM IST
