TRIBHOVANDAS BHIMJI ZAVERI LTD. Stock Trading Call - Investment
Review Buy
Commentary:
This is one of the
very old and premium brands in jewellery market. They had been making losses.
We can not compare the topline and bottomline with its peers such as PC
Jewellers, as TBZ has been on the backfoot regarding expansion. But the good
news is that it has turned around and started making profits from break even
for many years. The main rerating point for all the organized players in this
sector is the demonetization. We have already seen that for the bigger players
like Titan, PC Jewellers and others. The dominant presence in bigger market like Mumbai is also a plus for the company.
Technical Picture:
The stock crossed
100 DMA recently after many years and about to cross 200 DMA on weekly charts
after which it will give faster surge. The 5% circuit filter limit is limiting
the fast rise of the stock. The stock is ready to shoot up 50pc plus in a very
short span of time. After listing it briefly made lifetime high of 300 and languishing since then. It has been clearly doing base building during 2016-17 and ready to rise and probably make new high as well.
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