Tara Jewels twinkles and sparkles

It is indeed after a long time that a jewellery stock is in the limelight. Tara Jewels is shining bright this morning with the stock opening higher at Rs.34, its intra day high and currently remains around the same levels, up 3%. Volumes have also jumped up substantially from two week average of 50,000 shares to over 2 lakh shares traded today alone.

The reason for the sudden spike up of interest on the counter is its signing of an exclusive manufacturing and supply Agreement with Sterling Jewelers Inc (USA), a part of Signet Group, which is the largest speciality Jeweler in USA and UK, for the designer Brand Angel Sanchez.

The company went on to add that a launch order valued at Rs. 29 crores (appox $ 4.4 million) has been successfully delivered. The designs are being tested initially in about 60 stores. Sterling Jewelers Inc (USA) has appox 1400 stores in America.