SENCO

** Shares of Senco Gold SENC.NS fall 4% to 252 rupees, their lowest level since late September, 2023

** More than 1.5 mln shares of the jewellery maker changed hands in five block deals, LSEG data shows

** Block deals in price range of 257.8 - 259 rupees, compared to last close price of 263.15 rupees

** SENC set to drop for a fourth straight session, losing 16% in the period

** Stock is down 53% so far in 2025

(Reporting by Nishit Navin)

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Feb 13 (Reuters) - Senco Gold Ltd SENC.NS:

• DEC-QUARTER CONSOL NET PAT 334.8 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 21.03 BILLION RUPEES

Source text: ID:nBSE5lNjl6

Further company coverage: SENC.NS

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By Rajendra Jadhav

MUMBAI, Feb 11 (Reuters) - Gold leasing rates in India have doubled within a month to a record high, following the overseas market, where rates jumped due to a supply crunch as global banks divert the precious metal to the United States, industry officials told Reuters.

Higher leasing rates are driving up jewellery production costs in the world's second-largest gold consumer and could squeeze margins of jewellers such as Titan TITN.NS, Kalyan Jewellers KALN.NS, and Tribhovandas Bhimji Zaveri TBZL.NS.

Gold leasing rates, which traditionally hover around 1.5% to 3%, have more than doubled in a month and could rise further, Shekhar Bhandari, president and business head of Kotak Mahindra Bank KTKM.NS told Reuters.

"Given the geopolitical uncertainty, trade war, and benefit arising out of higher futures prices on CME as compared to spot, it seems leasing rates will remain elevated for the next few months," he said.

Global bullion banks are flying gold into the United States from London, Switzerland, and Asian hubs such as Dubai and Hong Kong to capitalise on the unusually high premium of U.S. gold futures GCcv1 over spot prices XAU=, Reuters has reported.

The rush to move gold to the United States has lifted gold leasing rates in London, the world's key over-the-counter (OTC) market.

Banks in import-dependent India borrow gold from overseas banks and lend to jewellers. Rising borrowing costs have proportionally increased leasing rates in India, Bhandari said.

"Jewellers were caught off-guard by the leasing rate shooting up to a record high," said Amit Modak, chief executive of PN Gadgil and Sons, a jeweller based in the western city of Pune. "Now they're clueless about how to handle it."

Bullion-supplying banks were not bringing gold into India in recent weeks since the market is in discount, while deliveries on COMEX fetch premium, a Mumbai-based dealer with a bullion importing bank said.

The premium on COMEX futures over spot prices widened again to about $28 per ounce on Monday, compared with discounts as high as $24 in India.

Vaults in key Indian cities storing gold imported by bullion banks are nearly empty, as banks have moved gold to the United States and are not interested in bringing it to India given the discounts, said another Mumbai-based dealer with a bank.

"Indian discounts could have risen above $100 due to negligible demand. But a supply crunch is keeping them from sky-rocketing," he said.

(Reporting by Rajendra Jadhav; Additional reporting by Siddhi Nayak; Editing by Clarence Fernandez)

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Jan 9 (Reuters) - Senco Gold Ltd SENC.NS:

• SENCO GOLD - TO OPEN 18-20 JEWELLERY SHOWROOMS THIS YEAR

• SENCO GOLD LTD - SALES OF OVER 20 BILLION RUPEES IN Q3'25

• SENCO GOLD LTD - REPORTS 22% REVENUE GROWTH IN Q3

Source text: ID:nBSE8z9JnB

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** Shares of jewellery retailer Senco Gold SENC.NS rise as much as 4.5% to 1,420 rupees

** SENC on Tuesday said its Q2 jewellery retail business grew 27% YoY

** Adds, on course for 18-20% YoY revenue growth for FY25 considering upcoming festive season

** Stock on track to snap four consecutive sessions of losses, if trend holds

** Share price above 50-day, 100-day and 200-day exponential moving averages since Aug. 5

** Avg rating of five analysts equivalent of "strong buy", median PT is 1,400 rupees - LSEG data

** Stock last up 2.9%, bumping YTD gains to 100.8%

(Reporting by Ashish Chandra in Bengaluru)

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Oct 8 (Reuters) - Senco Gold Ltd SENC.NS:

• ON COURSE FOR 18-20% YOY REVENUE GROWTH FOR FY25 CONSIDERING ENSUING FESTIVE SEASON

• JEWELLERY BUSINESS RETAIL GROWTH WAS ROBUST AT 27% YOY IN Q2

Source text for Eikon: ID:nBSE63PHMt

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** Shares of Senco Gold SENC.NS rise as much as 10.7% to 1,544 rupees, matching its record high level set on Oct. 1

** The jewellery retailer on Friday approved raising 5 bln rupees (~$60 mln) via shares and/or convertible securities

** Co also approved share split in ratio 1:2

** More than 1 mln shares change hands, 2.2x of 30-day avg

** Avg rating of five analysts is equivalent of "strong buy", median PT is 1,400 rupees - LSEG data

** Since listing in July 2023, the stock has risen ~229%

($1 = 83.9600 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

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Oct 4 (Reuters) - Senco Gold Ltd SENC.NS:

• APPROVED RAISING OF FUNDS UPTO 5 BILLION RUPEES

• APPROVES SUB-DIVISION OF SHARES IN 1:2 RATIO

Source text for Eikon: ID:nBSE6LWMC0

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Sept 30 (Reuters) - Senco Gold Ltd SENC.NS:

• TO CONSIDER RAISING FUNDS

• TO CONSIDER ALTERATION IN SHARE CAPITAL OF CO BY WAY OF SUB-DIVISION OF SHARES

• TO CONSIDER RAISING FUNDS VIA QIP OR ANY OTHER PERMISSIBLE METHOD

Source text for Eikon: ID:nBSE2TVqZQ

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** Shares of jewellery retailer Senco Gold SENC.NS rise 8.8% to 1,126.95 rupees, set for best day in nearly four months

** Co reports Q1 consolidated net profit of 512.7 mln rupees, up 85% from a year ago

** Revenue rose 7.5% to 14.04 bln rupees, while expenses rose 5.3% to 13.45 bln rupees

** More than 633,000 shares change hands, 2x the 30-day avg

** Stock up 64% YTD vs ~34% rise in rival Tribhovandas Bhimji Zaveri TBZL.NS

(Reporting by Dimpal Gulwani in Bengaluru)

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Aug 12 (Reuters) - Senco Gold Ltd SENC.NS:

• SENCO GOLD JUNE-QUARTER CONSOL NET PAT 512.7 MILLION RUPEES

• SENCO GOLD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 14.04 BILLION RUPEES

Source text for Eikon: ID:nBSE7nL2hk

Further company coverage: SENC.NS

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Adds trade official, premium update, share price, detail, from paragraph 3

By Rajendra Jadhav

MUMBAI, July 23 (Reuters) - India slashed import duties on gold and silver on Tuesday in a move industry officials said could lift retail demand and help cut smuggling in the world's second-biggest bullion consumer.

Higher demand for gold from India could boost global prices, which hit a record high this year, although that could widen India's trade deficit and put pressure on its ailing rupee.

"It's a massive step in (the) right direction, as it will reduce the incentives for smuggling of gold. It will create a level playing field for honest industry stakeholders," said Sachin Jain, CEO of World Gold Council's Indian operations.

The government said it will charge 5% basic customs duty and 1% in Agriculture Infrastructure & Development Cess (AIDC) on gold and silver imports, lowering import duties to 6% from 15%.

"To enhance domestic value addition in gold and precious metal jewellery, I propose to reduce customs duties of gold and silver to 6%," India's Finance Minister Nirmala Sitharaman said in a budget speech.

Local gold prices MAUc1 fell 6% to 68,500 rupees per 10 grams, their to their lowest level in more than three months after the announcement. Indian prices hit a record high of 74,777 rupees earlier this month, which squeezed demand.

Overseas gold prices XAU= erased losses and rose 0.4%.

Indian jewellery demand was hit by record-high gold prices, but the duty cut will bring down prices and boost consumption, said Saurabh Gadgil, chairman of PNG Jewellers.

Gold was trading at a premium in India for the first time in eleven weeks on Tuesday, with dealers charging a premium of up to $20 an ounce over official domestic prices, inclusive of 15% import and 3% sales levies, versus last week's discount of $65.

Shares of jewellery makers such as Titan Company TITN.NS, Tribhovandas Bhimji Zaveri TBZL.NS, Senco Gold SENC.NS and Kalyan Jewellers jumped by up to 10%.

Finance Minister Sitharaman also announced an import duty exemption for 25 critical minerals, including lithium. India has been exploring ways to secure supplies of lithium, a critical raw material used to make electric vehicle batteries.

(Reporting by Rajendra Jadhav; Additional reporting by Neha Arora; Editing by Himani Sarkar, Clarence Fernandez and Alexander Smith)

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** Shares of Senco Gold SENC.NS down 5.4% to 1,002.5 rupees

** Jewellery retailer says Q1 total sales grew 9% YoY

** But brokerage Motilal Oswal says revenue was below expectations, although sales grew in festive period despite challenges including heat wave, elections, and fewer wedding days

** Rival Titan Company TITN.NS posted weak quarterly rev growth on Friday, sending its shares down on Monday

** SENC stock on track to fall in six out of seven straight sessions if trend holds

** Stock on track for second-worst day so far in 2024; worst day was March 13 when it fell 8%

(Reporting by Varun Vyas in Bengaluru)

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** Kalyan Jewellers' shares KALN.NS jump as much as 5.4%, while Senco Gold SENC.NS gains 3% as Motilal Oswal starts with 'buy'

** Brokerage sets price targets of 525 rupees and 1,300 rupees for Kalyan and Senco, respectively

** Motilal flags that KALN looks to reduce its overall debt levels by about 7 bln rupees ($84 million) over the next two years and expects its PAT to increase by 41% annually from FY24 to FY26, surpassing its average profit CAGR of 38.3% over last two fiscal years

** Adds, SENC is focusing on lightweight jewellery and increasing its studded jewellery ratio and expects its adjusted PAT to increase by 26% annually from FY24 to FY26 as compared to a 15% rise over the last two fiscal years

** SENC on track for a 10th straight session of gains, if trend holds

** Avg. rating of six analysts covering KALN is 'buy', while the average rating of three analysts covering SENC is 'strong buy'; median PT is 477.50 rupees and 1,100 rupees, respectively - LSEG data

** Including today's session gains, KALN is up 21.5% YTD; SENC is up 48.2%

($1 = 83.3986 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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May 23 (Reuters) - Senco Gold Ltd SENC.NS:

• SENCO GOLD LTD MARCH-QUARTER CONSOL NET PAT 321.7 MILLION RUPEES VERSUS 260.3 MILLION RUPEES

• SENCO GOLD LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 11.37 BILLION RUPEES VERSUS 8.14 BILLION RUPEES

• SENCO GOLD LTD - DIVIDEND OF 1 RUPEE PER SHARE

Source text for Eikon: [ID:]

Further company coverage: SENC.NS

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** Shares of Senco Gold SENC.NS rise as much as 11.6% to 894.70 rupees; last up 9.4%

** Jewellery retailer says revenue grew 39% Y/Y in Q4, resulting in 28% growth in FY24

** 1 mln-plus shares traded, over 6x the 30-day avg and busiest session since late Feb

** SENC lost 7.2% in March, worst month since listing in July 2023

** Still, stock is up ~28% YTD, while larger rival Tribhovandas Bhimji Zaveri TBZL.NS has dropped ~10%

** TBZL down about 4% on the day

(Reporting by Dimpal Gulwani in Bengaluru)

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Feb 13 (Reuters) - Senco Gold Ltd SENC.NS:

• DEC-QUARTER CONSOL NET PAT 1.09 BILLION RUPEES VERSUS 1.03 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 16.52 BILLION RUPEES VERSUS 13.40 BILLION RUPEES

Source text for Eikon: ID:nNSE54vWS8

Further company coverage: SENC.NS

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** Shares of Senco Gold Ltd SENC.NS rise 15.6% to record 850 rupees

** Jewellery retailer's Q3 rev grew 24% to an all-time high; gold vols up 9%, diamond vols up 27%

** Stock last up 10.4%, trading higher for third straight session

** Around 680,000 shares traded vs 30-day avg of ~357,000 shares

** SENC's 62% rise in 2023 – which is also when it listed – in line with larger rival Tribhovandas Bhimji Zaveri TBZL.NS, better than Titan's TITN.NS 42%, but trails Kalyan Jewellers' KALN.NS 180% rise

(Reporting by Nandan Mandayam in Bengaluru)

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Jan 10 (Reuters) - Senco Gold Ltd SENC.NS:

• HIGHEST EVER Q3 REVENUE, UP ABOUT 24% Y/Y

Source text for Eikon: ID:nBSE9sFwZH

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** Growth prospects for pan-India jewellery retailer Senco Gold SENC.NS look promising and valuations attractive, says SBI Securities

** Initiates coverage on SENC with a "buy" rating and target of 920 rupees apiece, an implied upside of 27.50%

** Senco Gold SENC.NS shares up as much as 4.58% at 759 rupees apiece on the day

** Adds, strong legacy of over five decades, focus on lightweight and modern jewellery segment, strong business model, distribution network to drive SENC's earnings growth

** Sees gains for SENC from favourable outlook for India's jewellery retail sector, which is estimated to grow at 15.4% compound annual growth rate (CAGR) between fiscal 2023 and 2027

(Reporting by Bharath Rajeswaran)

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Nov 9 (Reuters) - Senco Gold Ltd SENC.NS:

• INDIA'S SENCO GOLD LTD SEPT-QUARTER CONSOL NET PAT 119.5 MILLION RUPEES VERSUS 87.9 MILLION RUPEES

• SENCO GOLD LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 11.47 BILLION RUPEES VERSUS 9.11 BILLION RUPEES

Source text for Eikon: ID:nNSE6tryQf

Further company coverage: SENC.NS

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** Shares of Indian jewellers Kalyan Jewellers KALN.NS, Vaibhav Global VAIB.NS, Thangamayil Jewellery THNG.NS, Goldiam International GOLI.NS, Tribhovandas Bhimji Zaveri TBZL.NS, PC Jeweller PCJE.NS and Senco Gold SENC.NS rise between 1%-6%

** Jewellers like Kalyan, Titan TITN.NS have reported strong sales in Q2, while gold demand has risen amid conflict in the Middle East

** ICICI Securities expects jewellery segment to outperform other consumer discretionary segments in medium term, as it is relatively immune to general slowdown in consumer discretionary spends

** Brokerage sees Kalyan potentially outperforming Titan in FY24 revenues

** ICICI says KALN benefits from faster retail expansion; expects co to exceed its guidance of store expansion in FY24

(Reporting by Aleef Jahan and Sethuraman NR in Bengaluru)

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Aug 14 (Reuters) - Senco Gold Ltd SENC.NS:

• SENCO GOLD LTD JUNE-QUARTER CONSOL NET PROFIT 276.7 MILLION RUPEES VERSUS 225.5 MILLION RUPEES

• SENCO GOLD LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 13.05 BILLION RUPEES VERSUS 10.07 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: SENC.NS

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