August 19, 2017

TRIBHOVANDAS BHIMJI ZAVERI LTD. Stock Trading Call - Investment Review Buy

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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