Tara Jewels surges as company bags Rs 53.44 crore order from Walmart

NEW DELHI: Shares of Tara Jewels surged about 9 per cent in trade on Wednesday, a day after the company bagged an order worth Rs 53.44 crore from Walmart USA for supply of diamond-studded jewellery.

The stock hit a day's high of Rs 35.80, up 8.64 per cent, on the BSE. The scrip has fallen over 33 per cent in August.

"Tara Jewels has secured new order of $8 million (Rs 53.44 crore) from Walmart USA, for the supply of diamond-studded jewellery," the company said in a filing to BSE. The order will have to be delivered by October 15.

Its clients include Walmart, Kay Jewelers, Zales, Jared, Ernest Jones, H Samuels, Helzberg, JC Penney, Blue Nile, American Swiss among others.

The company, which has three manufacturing facilities in India, supplies to retailers in over 20 countries including the US, the UK and Europe.