Uday Jewellery Industries Reports Significant Sales Growth and Rising Promoter Confidence
Uday Jewellery Industries has reported a remarkable 81.01% increase in net sales for the quarter ending December 2024, reaching Rs 98.92 crore. The company's financial performance is bolstered by a strong PBDIT of Rs 6.27 crore and a low debt-to-equity ratio, reflecting a stable financial foundation and rising promoter confidence.
Uday Jewellery Industries, a microcap player in the Diamond and Gold Jewellery industry, has recently undergone an evaluation adjustment that reflects notable underlying trends. The company has reported a significant growth in net sales, achieving an impressive 81.01% increase, which has contributed to a very positive financial performance for the quarter ending December 2024. This growth is underscored by the highest quarterly net sales recorded at Rs 98.92 crore and a robust PBDIT of Rs 6.27 crore.In terms of technical indicators, the stock's trend has shifted, moving from a mildly bearish to a mildly bullish stance. Key technical metrics, such as Bollinger Bands, have shown bullish signals, indicating a potential shift in market sentiment. Additionally, Uday Jewellery's low debt-to-equity ratio of 0.32 times suggests a stable financial foundation.
Promoter confidence has also been on the rise, with an increase in their stake by 0.69% over the previous quarter, now holding 74.46% of the company. This trend reflects a strong belief in the company's future prospects.
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