RBZ Jewellers shares have experienced a consistent uptrend since their listing on BSE and NSE on December 27, 2023. The stock garnered significant buying interest and hit the 5 percent upper circuit on both exchanges on the listing date. Despite maintaining this upward trajectory and hitting the upper circuit in the subsequent two sessions, the stock continues to show potential for further upside, establishing itself as a circuit-to-circuit stock.
In the first trading session of the New Year 2024, RBZ Jewellers share price opened higher and once again touched the 5 percent upper circuit, reaching ₹121.50 apiece on NSE. Impressively, the jewelry stock has achieved the upper circuit limit in all four sessions since its listing, marking it as one of the circuit-to-circuit stocks in the Indian stock market within just four days of being listed.
RBZ Jewellers shares are listed in the trade-to-trade category, implying that buying and selling the stock on the same day is restricted. Given its smaller size, it was anticipated before listing that the stock would fall into the circuit-to-circuit category. The 5 percent circuit band has contributed to the stock hitting the upper circuit even at relatively low trade volumes, according to Arun Kejriwal, Founder at Kejriwal Research and Investment Services.
Looking at the stock details, RBZ Jewellers IPO was launched in December with a price band of ₹95 to ₹100 per equity share. Following a three-day bidding period from December 19 to December 21, 2023, the shares were listed on BSE and NSE at ₹100 apiece. Despite facing selling pressure and touching an intraday low of ₹96 on NSE and ₹95 on BSE immediately after listing, the stock attracted buying interest, resulting in a sharp upside movement and hitting the 5 percent upper circuit.
RBZ Jewellers shares have delivered a notable 21.50 percent return to the allottees who remained invested in the stock despite the initial par listing on Dalal Street. The stock’s resilience and consistent upper circuit performance reflect positive market sentiment and investor confidence in its potential for further growth.
