Shares of Thangamayil Jewellers Ltd. are locked in an upper circuit of 20% on Tuesday, February 25, snapping a seven-day losing streak in the process.

The stock had declined 15% during this seven-day losing streak.

In an announcement to the exchanges on Monday, Thangamayil said that it has opened a new showroom in Chennai’s T. Nagar area on Sunday, February 23.

The company said that on the opening day of the showroom, it sold gold, silver, diamond and other articles worth ₹16.12 crore. It also saw a footfall of 7,250 on its opening day.

In an interaction with CNBC-TV18 on February 6, the management of Thangamayil Jewellery said that they will end financial year 2025 with revenue growth of over 24%.

The management also said that ₹510 crore will come into the company through the rights issue that it has approved by the end of March and the proceeds from the same will be used for the company’s store expansion.

Shares of Thangamayil Jewellers are trading 20% higher at ₹1,863. The stock is down 27% from its peak of ₹2,567.