Thangamayil Jewellery Limited listed today on the BSE where the listing ceremony was held. The stock opened on the BSE at Rs 70 while it opened on the NSE at Rs 75.70. The highs that the stock made were Rs 79 and Rs 82 respectively. The lows made were Rs 70 on both the exchanges.

The stock saw brisk trading throughout the day and the stock recorded a total traded volume of 2.05 cr shares or 5.5 times the IPO size. Delivery volume was 7.62% of the traded volume or 15.64 lakhs. If one were to consider the delivery as a percentage of the IPO size it was 42%. This percentage is significantly lower than the 79.2% of IPO size that was seen in the case of Syncom Healthcare which listed earlier on Monday. Considering the fact that markets were weak throughout the day, the fact that the share has held itself around the Rs 70 level is a good sign. The delivery percentage of 42 indicated that weak hands have exited the share and there could be upward movement going forward, but not necessarily that this happens on Monday itself.

The company has announced its results for the quarter ended December 2009 which are excellent. The turnover for the company for the quarter has more than doubled from Rs 55.77 crs to Rs 130.47 crs while net profit is up almost four times from Rs 1.07 crs to Rs 3.985 crs. The net profit for the first nine months of the current year ending March 2010 is Rs 12.35 crs. The EPS for nine months based on expanded equity of Rs 13.72 crs is Rs 9 for nine months and Rs 12 on an annualised basis. The share at current price is available at price earnings multiple of 6 based on current year nine months annualised earnings. Profit after tax margins for the company have also improved significantly to over 3% and the company has indicated that there would be further improvement in the same as the benefits from the branch expansion is realised.

All in all a satisfactory performance by the companies share today on its listing day.