New Delhi, March 18 -- Senco Gold share price was locked at 5% upper circuit on Tuesday led by heavy buying momentum. Senco Gold shares were frozen at Rs.249.30 apiece on the BSE.

The rally in Senco Gold shares comes after the company's promoters raised their stake in a time when gold prices are surging to record high levels.

Senco Gold promoter Jai Hanuman Shri Siddhivinayak Trust has increased its stake in the company by purchasing shares through open market transactions.

On March 17, Suvankar Sen, Trustee of Jai Hanuman Shri Siddhivinayak Trust, acquired 1,61,000 Senco Gold shares, representing 0.01% stake in the Kolkata-based jewellery maker, via open market.

"I, Suvankar Sen, Trustee of Jai Hanuman Shri Siddhivinayak Trust, on be...