This microcap rises 64% in June so far. Here's what fueling the rally

Shares of RO Jewels have been on a roll during the month of June so far. The stock has risen about 64 per cent in the current month so far as the stock has been hitting upper circuits for the last eight sessions in a row, following its stellar results for the March 2023 quarter.

Shares of RO Jewels hit an upper circuit of 5 per cent to Rs 7.10 on Monday, compared to its previous close at Rs 6.77 on Friday. The stock is up about 40 per cent in the last five sessions, while it has delivered a return of 55 per cent in the last month period. It has delivered a return of 230 per cent from its 52-week lows at Rs 2.15.

The gems and jewelry player has announced an astounding rise of 2,414 per cent on a year-on-year (YoY) basis in the net profit at earnings for the quarter ended March 31, 2023, at Rs 1.91 crore, which was Rs 0.07 lakh crore a year ago.  Its revenue from operations increased about 1,350 per cent YoY to Rs 490.72 crore for the fourth quarter of the previous fiscal (Q4FY23).

RO Jewels is a debt-free player, engaged actively in the wholesale trade of gold and silver chains. Its primary focus is on offering a range of gold-based chains, bracelets, gold & silver bars, and necklaces. It exclusively acquires ready-made chains and other jewelry items from established jewelry manufacturers and independent wholesalers located in Ahmedabad and Mumbai.

The company's jewelry products are predominantly distributed throughout Gujarat, employing a combination of B2B marketing and direct/outbound marketing strategies. The company boasts a diverse and extensive portfolio.

The corporate history of the company showcases a competitive comparison with its industry peers, showcasing its exceptional performance and commendable results.

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