Share Market Live

NSE

Goldiam International Ltd., engaged in manufacturing and sales of diamond studded gold jewellery, received orders worth more than $2 million during the Black Friday week via United States-based e-commerce platforms.

The Mumbai-based manufacturer and supplier of fine diamond jewellery reported encouraging orders for both natural and lab-grown jewellery during Black Friday week via e-commerce platforms. The company recorded a 30 percent sales growth compared to the corresponding period last year.

These orders are to be executed in 7-8 working days and of the total order, lab-grown jewellery accounts for 40 percent of the total value. The company said that since the orders are received via e-commerce platforms, they are more working capital efficient.

The management expects the momentum in lab-grown diamond jewellery to continue during Christmas as well.

The Mumbai-based firm manufactures and supplies exquisitely designed and luxurious diamond jewellery to leading branded retailers in the United States and Europe.

Goldiam's net profit declined 4.5 percent in the September quarter while sales halved compared to the same period last year.

Shares of Goldiam International ended 5.1 percent higher at Rs 130.20.