Stock market analysts have maintained ‘buy’ rating on Renaissance Jewellery Ltd with an intraday target of Rs 56.

According to them, interested traders can purchase the stock above Rs 55 with a strict stop loss of Rs 53.

If the bourses remain on the positive track, then the stock price will hit a target above Rs 58.

Shares of the company, on Friday (Nov 20), closed at Rs 54.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 56.70 and a low of Rs 18.15 on BSE.

Renaissance’s major activity is to make and sell studded gold, platinum and silver jewelry.

The company’s product collection comprises rings, earrings, pendants, bracelets and necklace that are made utilizing polished diamonds, valuable and other semi precious stones.

The company’s dedicated group of 40 designers is, well-versed on the newest global fashions and contributes at least 500 innovative designs designs on a monthly basis to the ever-increasing portfolio of more than 25,000 styles.

Most of the existing models are made using CAD/CAM to guarantee accuracy.    

The company’s top-notch production divisions comprises over 2000 highly experienced workers with access to the newest in tools and machinery comprising a laser-soldering mechanism, Nutech J10 casting apparatus, OTEC Stream Liner machine and many others.

The company’s production division is able to meet up their customers’ most stringent needs.