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The Economic Times

Somanjali Das

TBZ surges over 38% in two sessions, extending gains after hitting upper circuit. What's triggering the rally?

Tribhovandas Bhimji Zaveri shares have surged 38.9% across two sessions, climbing from Monday’s close of Rs 304.45 to Rs 423 at 9:25 am on Wednesday, as investors continued to react to GRT Jewellers’ proposed acquisition of the listed jewellery retailer.

The stock advanced 16.11% on Wednesday, gaining Rs 58.70 after opening at Rs 380. The rise followed Tuesday’s rally, when TBZ hit its upper-circuit level of Rs 366.80.

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