Augmont shares rise 23% in two days, hit record high; here's why 

Shares of Augmont Enterprises Ltd hit a record high today, rising 23% in the last two sessions. Augmont Enterprises shares rose 10% to a fresh high of Rs 1061.20 in the current session. Market cap of the firm rose to Rs 9696.56 crore.

The rally in the precious metals stock comes after India's largest exchange by volumes NSE, empanelled the company and its subsidiaries as a key partner for promoting Electronic Gold Receipts (EGRs).

Market cap of the firm rose to Rs 9696 crore. The stock was stuck in the upper circuit of 10% since early deals today.

The partnership is aimed at streamlining the creation and redemption of Electronic Gold Receipts (EGRs) while encouraging greater participation in EGR trading, thereby strengthening India’s organised gold market.

Under the arrangement, Augmont will contribute its expertise across the gold value chain and support the development of the digital infrastructure required for EGRs. The company will also provide technical and operational assistance to facilitate the rollout of the EGR product.

The collaboration is expected to make it easier for market participants to convert physical gold into EGRs and subsequently redeem those electronic receipts for physical gold within the regulated framework.

EGRs are dematerialised securities that represent ownership of physical gold held securely in SEBI-accredited vaults. These receipts are maintained electronically through depositories, with each EGR fully backed by an equivalent quantity of physical gold. They can also be traded on the exchange, bringing gold into the formal financial market ecosystem.

Through the partnership, the National Stock Exchange of India (NSE) aims to build a more transparent and efficient framework for gold trading. The initiative is expected to support better price discovery, broaden market participation and strengthen investor confidence among jewellers, refiners, traders and institutional investors.

Augmont Enterprises is one of India’s leading integrated precious metals companies, operating across refining, bullion trading, digital gold, consumer products, and technology-enabled platforms. Through its extensive ecosystem, Augmont provides transparent, secure, and innovative solutions across the gold and silver value chain, serving institutional participants, jewellers, businesses, and retail investors.