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Senco Gold shares plunge on raid rumors, later recover
29-Oct-24   15:19 Hrs IST

However, the company swiftly refuted these claims, dismissing them as speculative and inaccurate. Senco Gold assured its stakeholders that no such raid had taken place and reiterated its commitment to transparency, promising to disclose any material information as mandated by regulatory requirements.

Despite the initial market panic, Senco Gold shares staged a recovery later in the day. The stock had earlier touched a low of Rs 981.30, marking a 19.10% decline.

Senco Gold is a jewellery retailer with a strong presence in India, particularly in the eastern region. Senco has over 164 showrooms (including 68 franchisee showroom) spread across India and one international showroom with a mix of own and franchisee model.

On a consolidated basis, Senco Gold's net profit surged 85.29% to Rs 51.27 crore on 7.54% rise in revenue from operations to Rs 1403.89 crore in Q1 June 2024 over Q1 June 2023.

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