Shringar House of Mangalsutra share price skyrocketed 15% in Tuesday’s trading session amid rally in the Indian stock market. The jewellery stock opened at ₹289 per share on NSE today, as compared to previous close of ₹265.35 on Monday and touched an intraday high of ₹303.85 on 13 October.
Meanwhile, Indian benchmark indices Sensex and Nifty recovered in early trading on Tuesday, supported by gains in heavyweight HDFC Bank and information technology stocks. The 30-share BSE Sensex rose 305 points to 72,224.15, while the 50-share NSE Nifty advanced 93.40 points to 22,458.50 in early trade.
The stock rally came in after the Shringar House of Mangalsutra shares witnessed a huge trading volume on Tuesday. According to data available on NSE, around 312.92 lakhs shares changed hands during the intraday session on 13 October.
Shringar House of Mangalsutra recent business updates
In an exchange filing on 6 October, the company said it has been honoured with the “Mangalsutra Manufacturer of the Year” award at the India International Jewellery Awards (IIJA).
For Shringar, the recognition is particularly significant as it reflects the company’s long-standing focus on the mangalsutra category and its continued collaboration with retail partners across India. The company remains committed to developing collections that honour the cultural significance of the mangalsutra while responding to the evolving preferences of modern consumers.
“This award is an important recognition for Shringar and for the mangalsutra category as a whole. Consumer preferences continue to evolve, and our responsibility is to design collections that respect the sentiment associated with the mangalsutra while offering relevance, choice, and value to retailers and their customers. We thank our partners across the industry for their continued confidence in us. This honour inspires us to keep raising our standards and strengthening our commitment to innovation and excellence,” said Viraj Thadeshwar, CEO, SHOML.
Shringar House of Mangalsutra share price performance
Shares of Shringar House of Mangalsutra have witnessed a strong rally in the recent period, gaining 35.75% in the past week. The stock has extended its upward momentum over the past month, rising 39.53%, indicating significant gains in recent trading sessions.
On a year-to-date (YTD) basis, Shringar House of Mangalsutra shares have advanced 27.32%. The stock has also gained 47.70% over the past year, reflecting positive overall performance during the period.
Shringar House of Mangalsutra share price outlook – Buy, sell or hold?
Mahesh M Ojha, VP Research & Business Development at Kantilal Chhaganlal Securities, said that fresh breakout buying is visible in Shringar House of Mangalsutra, indicating improving bullish momentum in the stock.
“The stock could move towards the targets of ₹320, ₹338 and ₹360-plus in the near term. Traders can consider maintaining a stop-loss below ₹270 to manage downside risk. However, given the sharp price movement, investors should exercise caution and follow strict risk management,” Ojha said.
Gaurav Garg, Head – Research, Lemonn, recommended new investors to avoid chasing the stock after a steep rally. Wait for price stabilisation and assess the valuation against earnings growth, cash flows and the company’s future business outlook.
Furthermore, Garg further suggested existing investors to consider reviewing the position and booking partial profits where appropriate. A trailing stop-loss can help manage downside risk, depending on the investor’s time horizon and risk tolerance.
He asked long-term investors to focus on whether revenue growth, profitability and cash generation can support the stock’s higher valuation over time, rather than relying solely on recent price momentum.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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