PNG Jewellers touched a day high of Rs 633.95 on 13 November, the day it reported 14% growth in Diwali sales.

In a stock exchange filing, the company said festive season sales came in at Rs 689 crore. That is 14% more than the same period last year.

Gold drove most of the growth, with sales up 13%. Silver did better, rising 24%. Diamond jewellery grew 8%.

The company also saw good demand in its newer markets in North and Central India.

Studded jewellery, meaning pieces set with diamonds or other stones, made up 17.2% of sales, against 12.6% for its retail stores overall.

Chairman and Managing Director Saurabh Gadgil said festive offers and a better in-store experience helped the company grow across product types, even with gold prices moving up and down.

He added that the company feels confident about the coming wedding season because customer mood remains positive.

There was another update a day earlier. On 12 November, the company told exchanges it will meet analysts and institutional investors on 17 November in Mumbai, at the Avendus Spark INDX annual investor conference.

It said no price sensitive information will be shared at these meetings. At 14:18 pm, the stock was trading at Rs 620.60 on NSE, down Rs 11.15 or 1.76% from the previous close.

NSE data shows the shares are down 6.20% over one year but up 2.62% so far this year, within a 52-week range of Rs 503.00 to Rs 736.40.

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