Tara Jewels shares fall after strong listing

Shares of jewellery maker and exporter Tara Jewels listed with a premium on the bourses on Thursday.

The stock jumped over 5 per cent to an intraday high of Rs 244.90 on the BSE against its issue price of Rs 230 per share.

The scrip opened at Rs 242, up 5.21 per cent against the issue price on the BSE. The stock debuted at Rs 242 on the NSE.

However, the stock reversed its early gains following profit-booking and hit an intraday low of Rs 229.95 on the BSE.

The company's initial public offer (IPO) was subscribed over 1.88-times last month.

Tara Jewels conducts jewellery retail operations in the domestic market under the brand “Tara Jewellers” and has 30 stores spread mainly in west, central and north India.