 "Ramesh Damani Portfolio: This jewellery stock has zoomed 90% in 15 days")
Shares of Goldiam International was locked in 20 per cent upper circuit at Rs 324.45 on the BSE on Tuesday at 01:22 PM; with only buyers seen on the counter. A combined 4.12 million equity shares of the company have changed hands in Tuesday's trading session and there are pending buy orders for nearly 570,000 shares, cumulatively on the NSE and BSE.
Since August 5, in 15 trading days, the stock of this integrated manufacturer and supplier of fine diamond jewellery to leading retailers and wholesalers in the US, has zoomed 90 per cent. It has more than doubled or skyrocketed 124 per cent from its June month low of Rs 144.90 on the BSE.
Investor Ramesh Damani held 1.68 million equity shares, or 1.58 per cent, stake in Goldiam International as on June 30, 2024, the shareholding pattern of the company showed.
On Friday, August 23, Ramesh Shrichand Damani bought 800,000 equity shares of NIIT, representing 0.59 per cent stake in the total equity of NIIT at a price of Rs 127.55 on the NSE via bulk deal, exchange data showed. The names of the sellers, however, were not disclosed.
Shares of NIIT hit a 52-week high of Rs 183, surging 19 per cent on the NSE in intra-day trade today. In the past three trading days, the stock of the education company has zoomed 54 per cent from the level of Rs 119.08, it was on August 22.
Meanwhile, Goldiam International is an OEM partner and exporter of designer luxury diamond jewellery. Functioning as the manufacturer of choice for many of the leading global branded retailers, departmental stores and wholesalers across American markets.
The company is also known for utilising responsibly sourced diamonds, leveraging cutting-edge technologies and efficient manufacturing processes for optimal costing and quick delivery lead times.
The company is also known for utilising responsibly sourced diamonds, leveraging cutting-edge technologies and efficient manufacturing processes for optimal costing and quick delivery lead times.
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Targeting the mid-to-affordable diamond and bridal jewellery segments, Goldiam has a dedicated sales office in New York, with design teams based in both the US and India.
Since the beginning of fiscal 2025, Goldiam had won orders worth Rs 140 crore for the export of gold studded diamond jewellery, the bulk of which constituted the supply of lab grown diamond jewellery.
These orders need to be fulfilled by October 2024. The order book position as on June 30, stood at about Rs 150 crore. This order book is expected to be fulfilled within the next 3-4 months.
These orders need to be fulfilled by October 2024. The order book position as on June 30, stood at about Rs 150 crore. This order book is expected to be fulfilled within the next 3-4 months.
While announcing the company's June quarter (Q1FY25) earnings on August 9, the company’s management had highlighted that lab grown diamond (LGD) jewellery sales had contributed 68 per cent to the total revenue of the company, which is a strong indication of a clear shift in consumer preference.
“The customers in the USA, at our target price points, are clearly voting in favour of lab grown diamond jewellery, which has a distinct price advantage,” the company said.
The company's management further said that Indian consumers are also likely to mirror this preference for LGDs.
In that backdrop, Goldiam, with its retail venture in India called, ORIGEM hopes to bridge that gap by making lab grown diamond jewellery more accessible and acceptable across India.
The company's management further said that Indian consumers are also likely to mirror this preference for LGDs.
In that backdrop, Goldiam, with its retail venture in India called, ORIGEM hopes to bridge that gap by making lab grown diamond jewellery more accessible and acceptable across India.