2025-05-03 03:13:29
Latest Post
Zydus Lifesciences completes 25 years of listing on NSE, commemorated with a bell ringing ceremony at NSE
Adani Enterprises Ltd recommends dividend of Rs. 1.30
Lemon Tree Hotels launches its 13th property in Maharashtra with Lemon Tree Hotel, Mira Road, Mumbai
Home First Finance Company India Ltd recommends dividend of Rs. 3.70
Paushak Ltd recommends dividend of Rs. 20
Stock Report
Mini Diamonds India Ltd enters into strategic arrangement with ARK Diamonds Inc
Posted On : 2024-07-08 15:50:54( TIMEZONE : IST )
Mini Diamonds (India) Limited ("the Company") has entered into a strategic arrangement with ARK Diamonds Inc., a United States of America ("USA") based enterprise from New Jersey. This collaboration marks a significant milestone for the Company as the Company will enter into the USA market with its exquisite Sterling Silver and Gold Lab-grown diamond jewellery.
USA is one of the biggest markets for Sterling Silver and Gold Lab-Grown diamond jewellery in the world growing at 7% per year. Through this venture, the Company shall be able to cater to the top and finest niche of studded jewellery with Lab grown diamonds in sterling silver and gold.
ARK Diamonds Inc. is well established and has excellent customers base in the USA market. With this new arrangement, the Company shall be able to cater to whole chain from wholesale to retail jewellery business.
Under this arrangement, ARK Diamonds Inc. will spearhead the sales, marketing and order procurement for our sterling silver and gold lab grown diamond jewellery segment across the USA and neighbouring regions. This venture is poised to enhance Company's presence and drive substantial growth in the American market.
With ARK Diamonds Inc.'s expertise and extensive network, the Company is confident that this venture will elevate Company's brand, increase market presence, and boost sales in the USA market in Lab grown diamonds in gold and sterling silver jewellery business.
Lab grown diamonds are eco-friendly diamonds that will help protect the environment and also take a big market share in the upcoming future years to come.
The Chairman is pleased to inform that this strategic business arrangement will be the biggest milestone for the Company to enter the USA market.
We expect that Company's revenues and margins to be greatly benefited by this in coming quarters of the financial year 2024-25.
Shares of MINI DIAMONDS (INDIA) LTD. was last trading in BSE at Rs. 80.76 as compared to the previous close of Rs. 85.01. The total number of shares traded during the day was 1897 in over 53 trades.
The stock hit an intraday high of Rs. 80.76 and intraday low of 80.76. The net turnover during the day was Rs. 153201.00.
