An investment broker tracking the gem and jewellery segment recommends to his HNI clients Shrenuj & Co., which has reported a net profit of Rs. 38.48 crore on a turnover of Rs. 1443.35 crore for the first half of the current fiscal against a net of Rs. 28.51 crore on a turnover of Rs. 1068.97 crore for the corresponding period last year. For the entire 2010-11, it had posted a net profit of Rs. 56.84 crore on a turnover of Rs. 2456.51 crore. Free reserves of Rs. 418 crore against the equity capital of Rs. 15.21 crore make it a bonus candidate also. The scrip is worth considering at every decline for medium to long-term rewards, says the investment broker.
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