Augmont Enterprises shares hit 10% upper circuit for second day; here’s why

Newly listed Augmont Enterprises shares rallied 10% to hit a fresh record high of ₹1,062.20 on Tuesday, marking the second consecutive session of upper-circuit gains and extending their winning streak to three sessions. Shares of the integrated precious metals company have jumped nearly 23% in three sessions, taking its market capitalisation to around ₹9,706 crore.

The strong buying momentum was seen after the company’s subsidiary, Augmont Gold Tech, was empanelled by the National Stock Exchange of India (NSE) as a key partner for promoting Electronic Gold Receipts (EGRs).

Augmont Enterprises, which debuted on the BSE and NSE on August 31, 2026, has gained nearly 35% from its IPO price of ₹788 per share. The stock has also surged nearly 32% from its September 17 low of ₹806.05.

Why is Augmont Enterprises stock rising?

The rally follows NSE’s empanelment of Augmont Gold Tech as a key partner for promoting EGRs. The partnership is aimed at simplifying the creation and extinguishment of EGRs and promoting their trading, thereby strengthening the ecosystem for electronic gold in India.

Under the partnership, Augmont will leverage its experience across the gold value chain to support the digital framework for EGRs, including technical and on-ground assistance. The arrangement is expected to facilitate the conversion of physical gold into EGRs and their subsequent conversion back into physical gold within the regulated ecosystem.

EGRs are dematerialised securities that represent ownership of physical gold stored securely in SEBI-accredited vaults. The receipts are held electronically through depositories and are fully backed by physical gold.

EGRs can be traded on exchanges, integrating gold into the formal financial system. The framework is designed to improve price discovery, liquidity and market participation while offering investors a regulated way to hold gold electronically.

The NSE said the partnership with Augmont would help deepen participation in EGRs by combining its technology and market infrastructure with Augmont’s presence across the gold value chain.

“By combining NSE’s robust technology and liquidity framework with Augmont’s rich experience and on-the-ground presence across the gold value chain, we are simplifying the creation and extinguishment of EGRs and making gold investment more accessible to investors across the nation,” said Sriram Krishnan, Chief Business Development Officer, NSE.

Ketan Kothari, Whole-Time Director, Augmont Enterprises, said the company aims to make the conversion between physical and electronic gold simpler, faster and more transparent for the trade and investors.

“By bringing together our experience in refining, sourcing and distribution of gold with NSE’s technology and market infrastructure, we aim to make the conversion between physical and electronic gold simpler, faster and more transparent for the trade and investors alike. We are committed to supporting the growth of EGRs as a trusted channel for gold participation in India,” Kothari said.