Technical analysts have suggested that day traders can purchase Renaissance Jewellery stock around Rs 103 with a strict stop loss of Rs 101. The day trading target for the day is Rs 110.
Analysts also said that the stock has enough steam to go up. If the stock markets remain on positive track, the next target for the day is Rs 119.
On Wednesday (30 Jan), the share closed at Rs 113.60 on BSE. The stock of the company has touched 52-week high of Rs 200 and low of Rs 83.6 on BSE.
Renaissance Jewellery Limited has informed the Exchange vide notes to Accounts in the Unaudited Financial Results for the quarter ended December 31,2007 (taken on record by the Board of Directors of the Company at its meeting held on January 29, 2008) regarding the position of funds raised in IPO including share premium and utilisation thereof as per the objects of the issue upto 31st December, 2007.
Lucera, a Sterling Silver brand of Renaissance Retail Venture, a 100% subsidiary of Renaissance Jewellery, on December 29 launched new Victorian collection in Mumbai.
The new Victorian collection includes a variety of designs in necklaces, bracelets, earrings, pendants and fingerings, which comes in delicate and exquisite designs with studded White and Alpenite Olive Cubic Zirconias and Pearls in Sterling Silver.
The stocks of other companies from the same sector, which are looking good for medium-term trading, include Rajesh Exports, Gitanjali Gems and Asian Star.