Goldiam International Share Shines 3% on Rs 50 Crore Jewellery Export Order

Picture Source: Internet

On April 27, Goldiam International shares gained about 3% after receiving export orders worth Rs 50 crore for diamond-gold jewellery manufacturing. Lab-grown diamond jewellery adds around 35% of the export order.

At 11:23 am, the company’s shares traded 1.4% higher at Rs 143.4 on the BSE.

The company anticipates performing this order before August 30, i.e., in four to six months. The company’s order book stands at close to Rs 100 crore.

As per Monarch Net Worth Capital, the existing order inflow highlights the export markets’ improving conditions, and the brokerage firm expects the trend to endure. It has repeated its long-term prospects for lab-based diamonds as they continue gaining fame.

The company has a presence both in natural and lab-based diamonds, providing to the US, the world’s largest jewellery market.

More companies are engaged in lab-based diamonds, giving the compensations it enjoys, apart from the pricing variance. Additionally, the company is considering crossing the threshold of a domestic market for lab-grown diamonds, which is a logical move given the expenditure patterns in India.

The Union Budget highlighted the growing need for lab-grown diamonds and lined up procedures to boost its complete growth, which is a really promising sign, stated Monarch Networth Capital.

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