Over the past four days, the stock of a prominent jewellery retailer has been creating quite a buzz in the market, surging nearly 20%. On 21 March 2025, the rally continued with the stock hitting the 5% upper circuit for the fourth consecutive session. It closed at INR 288.85 per share on the BSE, driven by strong promoter action and renewed investor interest.
The company in focus is Senco Gold, which is seeing interest from both retail and institutional investors.
Promoters Aggressive Buying
In a clear sign of confidence, the promoter entity Jai Hanuman Shri Siddhivinayak Trust (with trustees Suvankar Sen and Joita Sen) bought 2,41,400 shares in 2 tranches this week. On 17 March 2025, 1,61,000 shares were bought and on 18 March 2025, 80,400 shares were bought. These were open market transactions showing the promoter group’s conviction on the long-term story.
The total acquisition is 0.15% of the company’s paid-up capital and the promoter and promoter group’s holding now stands at 64.22% from 64.17%. Specifically, the trust’s holding is now 41.31% from 41.26%.
Senco Gold Post-IPO Performance
Senco Gold launched its IPO on 4 July 2023 with an issue size of INR 405 crore. The overall subscription to issue stands at 73.35X and it was listed with a premium of 27.7%. On 31 January 2025, the stock undergoes into 1:2 stock split, the effective allotment price stands at INR 158.5 per share.
The stock soon turned into a multibagger and reached its all-time high of INR 732.15 per share on 27 September 2024, reflecting a multibagger return of 362%. However, there was a sharp market correction of 60% and the stock is trading at around INR 288.15 per share. still it is trading over 82% premium from its allotment price
What to Watch Out For
The buying by promoters, positive technicals and improving sector dynamics are good for Senco Gold in the near term. But investors will be watching whether the company can convert this bounce into earnings growth and margins amid gold price volatility.
As the dust settles one thing is clear — the promoters’ recent actions speak louder than words. By increasing their stake at a critical time they have sent a strong message of faith in the company’s fundamentals. For now Senco Gold is shining not just in showrooms but also on the trading floors — and investors would do well to keep this stock on their watchlist.
For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
Disclaimer: This article is for informational purposes only. Investments in stocks and IPOs are subject to market risks. Please consult your financial advisor before investing.