Gold stock jumps 4% after Ashish Kacholia sold 0.56% stake in the company

During Tuesday’s trading session, the shares of one of the leading jewellery companies in India surged nearly 3.8 percent to Rs. 2,715 on BSE, despite ace investor Ashish Kacholia selling a 0.56 percent stake worth nearly Rs. 20 crores in the company via a bulk deal on NSE.

With a market capitalisation of Rs. 3,556.8 crores, at 01:14 p.m., the shares of Sky Gold Limited were trading in the green at Rs. 2,690, up by nearly 2.8 percent, as against its previous closing price of Rs. 2,616.7.

Is Sky Gold a buy or sell? What is its Fair Value? What are the company's health parameters? What are the positive and negative factors driving the company -- ProTips? Know all the answers on the company's overview page here.

What’s the News:

According to the 23rd September bulk deal data available with the NSE, Ashish Kacholia sold 76,720 equity shares (equivalent to a 0.56 percent stake) in Sky Gold Limited, at an average price of Rs. 2,602.93 per share, resulting in a total transaction value of nearly Rs. 20 crores.

As of 5th September shareholding data available with the BSE, Ashish Kacholia held nearly 3.58 lakh equity shares in the company, representing a 2.63 percent stake.

Financials:

The company experienced significant growth in its revenue from operations, showing a year-on-year rise of around 92.3 percent from Rs. 376 crores in Q1 FY24 to Rs. 723 crores in Q1 FY25.

Further, the net profit of Sky Gold increased during the same period from Rs. 11 crores to Rs. 21 crores, indicating a growth of nearly 91 percent YoY.

On a year-on-year basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA increased from Rs. 18.6 crores in Q1 FY24 to Rs. 37.3 crores in Q1 FY25, registering a growth of 100.5 percent.

Stock Performance

The stock has delivered positive returns of nearly 809.2 percent of returns in one year, as well as around 180.6 percent returns in the last six months. So far in 2024, the shares of Sky Gold have given multibagger returns of about 173 percent.

About the Company:

Established in 2008, Sky Gold Limited, one of the leading jewellery companies based in Mumbai, is engaged in the business of designing, manufacturing and marketing of gold jewellery.

The company provides a wide range of designs and also uses studded American diamonds and/or coloured stones in many of its jewellery products.

Written by Shivani Singh

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