Senco Gold share price hits upper circuit as promoter raises stake amid soaring yellow metal rates

Senco Gold share price was locked at 5% upper circuit on Tuesday led by heavy buying momentum. Senco Gold shares were frozen at ₹249.30 apiece on the BSE.

The rally in Senco Gold shares comes after the company’s promoters raised their stake in a time when gold prices are surging to record high levels.

Promoter stake increase

Senco Gold promoter Jai Hanuman Shri Siddhivinayak Trust has increased its stake in the company by purchasing shares through open market transactions.

On March 17, Suvankar Sen, Trustee of Jai Hanuman Shri Siddhivinayak Trust, acquired 1,61,000 Senco Gold shares, representing 0.01% stake in the Kolkata-based jewellery maker, via open market.

“I, Suvankar Sen, Trustee of Jai Hanuman Shri Siddhivinayak Trust, on behalf of the Trust hereby submit this disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeover) Regulations,20 I 1. This disclosure is related to the acquisition of 1,61,000 Equity shares consisting of 0.01% the paid up share capital of the Company through the open market,” a regulatory filing on March 18 said.

Prior to the acquisition, promoter Jai Hanuman Shri Siddhivinayak Trust held 6,73,75,656 equity shares of Senco Gold, aggregating to 41.16% stake in the company. With the latest purchase, the shareholding has now increased to 6,75,36,656 equity shares, representing 41.26% stake in the company.

As of 31 December 2024, the total promoter shareholding in Senco Gold was 64.11%, while total public shareholding was 35.89%.

Senco Gold Stock Price Performance

Senco Gold share price has fallen 27% in one month and has dropped more than 55% on a year-to-date (YTD) basis. Over the past six months, Senco Gold stock price has declined 60%, while it has plunged 34% in one year.

At 1:40 PM, Senco Gold shares were still locked at 5% upper circuit at ₹249.30 apiece on the BSE.

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