News

Centre to soon release framework for consumer protection in diamond industry The government on Tuesday said it will soon release a robust framework to ensure transparency, accountability and consumer protection across the diamond industry.  In a consultation on consumer protection in the diamond sector led by the Central Consumer Protection Authority (CCPA) under the Ministry of Consumer Affairs, the stakeholders addressed critical concerns regarding the lack of standardised terminology and inadequate disclosure practices in the diamond sector. “These...
Centre to soon release framework for consumer protection in diamond industry
Centre to soon release framework for consumer protection in diamond industry
Source: IANS
2024-11-19 04:13:27 pm
India`s diamond imports drop 54 pc in August, country remains global dominant player India’s diamond imports saw a 54 per cent decline in August compared to the same month last year, as the country remains a dominant player in the global diamond industry, responsible for producing 95 per cent of the world’s polished diamonds, a report showed on Tuesday.  As per preliminary data from the Gem and Jewellery Export Promotion Council (GJEPC), India imported 5.6 million carats of diamonds during this period, underscoring the ongoing global shifts within the diam...
India`s diamond imports drop 54 pc in August, country remains global dominant player
India`s diamond imports drop 54 pc in August, country remains global dominant player
Source: IANS
2024-10-01 12:43:14 pm
India`s diamond sector facing severe crisis: GTRI Global Trade Research Initiative (GTRI) has said that India's diamond sector is facing a severe crisis as both imports and exports have sharply declined in the past three years, which has triggered defaults, factory closures, and widespread job losses. It said that while export returns have surged, a large inventory of unprocessed rough diamonds is piling up due to reduced orders and growing competition from lab-grown diamonds. GTRI Founder Ajay Srivastava said ‘This has triggere...
India`s diamond sector facing severe crisis: GTRI
India`s diamond sector facing severe crisis: GTRI
Source: Accord Fintech
2024-09-19 10:40:57 am
Mini Diamonds hits upper circuit on entering into strategic business arrangement with Parasamani Mini Diamonds (India) is currently trading at upper limit of Rs. 114.88, up by 2.25 points or 2.00% from its previous closing of Rs. 112.63 on the BSE. The scrip opened at Rs. 114.88 and has touched a high and low of Rs. 114.88 and Rs. 114.88 respectively. So far 94563 shares were traded on the counter. The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 114.88 on 26-Aug-2024 and a 52 week low of Rs. 17.00 on 31-Oct-2023. Last one week high and low...
Mini Diamonds hits upper circuit on entering into strategic business arrangement with Parasamani
Mini Diamonds hits upper circuit on entering into strategic business arrangement with Parasamani
Source: Accord Fintech
2024-08-26 11:58:47 am
Starlineps Enterprises touches the roof on securing letter of intent worth Rs 37.96 crore Starlineps Enterprises is currently trading at its upper limit of Rs. 138.85, up by 12.60 points or 9.98% from its previous closing of Rs. 126.25 on the BSE. The scrip opened at Rs. 129.00 and has touched a high and low of Rs. 138.85 and Rs. 129.00 respectively. So far 1080048 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 185.80 on 13-Aug-2024 and a 52 week low of Rs. 83.30 on 14-Mar-2024. Last one week high a...
Starlineps Enterprises touches the roof on securing letter of intent worth Rs 37.96 crore
Starlineps Enterprises touches the roof on securing letter of intent worth Rs 37.96 crore
Source: Accord Fintech
2024-08-20 04:02:16 pm
Falling prices, eroding consumer trust, imports major challenges for lab-grown diamond industry: GTRI The Global Trade Research Initiative (GTRI) has said that significant fall in prices, eroding consumer interest and competition with imports are some of the major challenges being faced by the domestic lab-grown diamond industry. It also said that while India faces the issue of production overcapacity, it continues to import lab-grown diamonds in large amounts and this issue needs deeper investigation.  To address these challenges, GTRI said the government needs to take certain steps ...
Falling prices, eroding consumer trust, imports major challenges for lab-grown diamond industry: GTRI
Falling prices, eroding consumer trust, imports major challenges for lab-grown diamond industry: GTRI
Source: Accord Fintech
2024-08-12 11:31:29 am
Mini Diamonds (India) touches roof on getting nod to incorporate Wholly Owned Subsidiary Mini Diamonds (India) is currently trading at upper limit of Rs. 88.85, up by 1.74 points or 2.00% from its previous closing of Rs. 87.11 on the BSE. The scrip opened at Rs. 88.85 and has touched a high and low of Rs. 88.85 and Rs. 88.85 respectively. So far 515 shares were traded on the counter. The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 102.90 on 12-Jul-2024 and a 52 week low of Rs. 17.00 on 31-Oct-2023. Last one week high and low of the...
Mini Diamonds (India) touches roof on getting nod to incorporate Wholly Owned Subsidiary
Mini Diamonds (India) touches roof on getting nod to incorporate Wholly Owned Subsidiary
Source: Accord Fintech
2024-08-06 11:31:11 am
Mini Diamonds touches roof on entering into strategic arrangement with ARK Diamonds Mini Diamonds (India) is trading at its upper circuit limit of Rs. 88.89, up by 4.23 points or 5.00% from its previous closing of Rs. 84.66 on the BSE. The scrip opened at Rs. 84.35 and has touched a high and low of Rs. 88.89 and Rs. 80.43 respectively. So far 0.16 lakh shares were traded on the counter. The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 90.10 on 02-Jul-2024 and a 52 week low of Rs. 17.00 on 31-Oct-2023. Last one week high and low...
Mini Diamonds touches roof on entering into strategic arrangement with ARK Diamonds
Mini Diamonds touches roof on entering into strategic arrangement with ARK Diamonds
Source: Accord Fintech
2024-07-08 11:10:13 am
Malabar Gold & Diamonds Launched Sparkling New Store in Patiala Patiala, Punjab, 1 April, 2024: Malabar Gold & Diamonds, ranked as the world's sixth-largest jewellery brand, opened its latest store in Patiala, Punjab. This luxurious store, spanning 5047 sq. ft., marks the brand's 4th store in Punjab and the 30th in the North region. M P Ahammed, Chairman of Malabar Group virtually inaugurated the store on March 28, 2024. The grand opening ceremony was graced by the esteemed presence of Shri Ajit Pal Singh Kohli (Member of the Legislative ...
Malabar Gold & Diamonds Launched Sparkling New Store in Patiala
Malabar Gold & Diamonds Launched Sparkling New Store in Patiala
Source: PR Agency
2024-04-01 12:08:38 pm
Cut & polished diamond exports to dip about 25-30 pc in FY24: CARE Ratings  Economic conditions in the US and China, growing market for lab grown diamonds (LGD), other avenues for discretionary spending and geopolitical conditions is taking the glitter off the Indian cut and polished diamond (CPD) industry. According to the credit rating agency CARE Ratings, the industry exports out of India are expected to hit a five-year low in FY24. The exports of CPD industry will see exports dipping by 25-30 per cent to $15 to $16 billion with the near term demand co...
Cut & polished diamond exports to dip about 25-30 pc in FY24: CARE Ratings
Cut & polished diamond exports to dip about 25-30 pc in FY24: CARE Ratings
Source: IANS
2024-03-06 04:36:39 pm
Surat`s journey from diamond capital to urban renewal role model  Surat, a city historically celebrated as a hub for textile and diamond trading in Southern Gujarat, is on the cusp of a transformative journey. This city is currently experiencing a rapid evolution in its infrastructure and transportation systems, promising an impact on the lives of its citizens and the regional real estate sector. The government's focus has shifted to ambitious projects, poised to redefine Surat's urban landscape. Key among these are the multimodal transp...
Surat`s journey from diamond capital to urban renewal role model
Surat`s journey from diamond capital to urban renewal role model
Source: IANS
2024-01-07 12:41:30 pm
Lab-grown diamonds add glitter to booming gems and jewellery business  India has been a big foreign exchange earner from IT and IT services. Our leading companies were earlier targeted as body shopping outfits and many thought that they would wind up post Y2K. Nothing of that sort happened and India is at the forefront of this sector and provides onshore and offshore services to the world. Similarly, India was considered a major player in the diamond cutting and polishing business and providing labour. It was an important activity but the share of th...
Lab-grown diamonds add glitter to booming gems and jewellery business
Lab-grown diamonds add glitter to booming gems and jewellery business
Source: IANS
2023-12-17 09:39:58 am
India sees minimal trade disruption after G7 ban on Russian diamonds India expects little disruption to its diamond industry from an incoming ban by G7 countries on Russian gems, a trade ministry official said on Friday, because the country mostly processes smaller Russian diamonds which will be less affected by the new restrictions. India is home to 90% of the world's diamond cutting and polishing industry, including for some Russian diamonds. Last week, G7 nations announced a direct ban on Russian diamonds starting Jan. 1 followed by phased-in rest...
India sees minimal trade disruption after G7 ban on Russian diamonds
India sees minimal trade disruption after G7 ban on Russian diamonds
Source: Reuters
2023-12-17 09:00:33 am
India sees minimal trade disruption after G7 ban on Russian diamonds India expects little disruption to its diamond industry from an incoming ban by G7 countries on Russian gems, a trade ministry official said on Friday, because the country mostly processes smaller Russian diamonds which will be less affected by the new restrictions. India is home to 90% of the world's diamond cutting and polishing industry, including for some Russian diamonds. Last week, G7 nations announced a direct ban on Russian diamonds starting Jan. 1 followed by phased-in rest...
India sees minimal trade disruption after G7 ban on Russian diamonds
India sees minimal trade disruption after G7 ban on Russian diamonds
Source: Reuters
2023-12-16 09:01:02 am
PM Narendra Modi to inaugurate Surat`s diamond bourse on December 17 Prime Minister Narendra Modi will inaugurate Surat's Diamond Bourse on December 17. This corporate office hub, estimated at Rs 34,000 crore, is poised to transform Surat into the diamond trading capital of the world, said official data from Gujarat government. The project, spread across an area spanning 35.54 acres, incorporates the Central Business District (CBD) and social, commercial, and educational facilities. Chief Minister Bhupendra Patel will be present at the inauguratio...
PM Narendra Modi to inaugurate Surat`s diamond bourse on December 17
PM Narendra Modi to inaugurate Surat`s diamond bourse on December 17
Source: IANS
2023-12-16 08:55:58 am
India`s diamond polishing industry`s revenue likely to fall by 30-35% in current fiscal : Crisil With lackluster demand from the US, EU and China, rating agency Crisil has said that India's diamond polishing industry will see its revenue drop by 30-35 per cent to $14-15 billion in current fiscal. It highlighted that these three geographies account for 75 per cent of India's polished diamond exports. Rahul Guha, Director, Crisil Ratings said ?Israel imports $1.25 billion worth of polished diamonds annually from India. With the country now declaring a war on the Palestinian militant group ...
India`s diamond polishing industry`s revenue likely to fall by 30-35% in current fiscal : Crisil
India`s diamond polishing industry`s revenue likely to fall by 30-35% in current fiscal : Crisil
Source: Accord Fintech
2023-10-19 10:13:40 am
PNGS Gargi Fashion Jewellery zooms on starting commercial sale of 14 Carat Gold studded with diamond jewellery PNGS Gargi Fashion Jewellery is currently trading at Rs. 334.70, up by 21.65 points or 6.92% from its previous closing of Rs. 313.05 on the BSE.The scrip opened at Rs. 328.80 and has touched a high and low of Rs. 334.70 and Rs. 310.00 respectively. So far 20000 shares were traded on the counter.The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 347.40 on 12-Sep-2023 and a 52 week low of Rs. 57.00 on 20-Dec-2022.Last one week high and low of the scrip stood at Rs. 3...
PNGS Gargi Fashion Jewellery zooms on starting commercial sale of 14 Carat Gold studded with diamond jewellery
PNGS Gargi Fashion Jewellery zooms on starting commercial sale of 14 Carat Gold studded with diamond jewellery
Source: Accord Fintech
2023-10-18 04:00:59 pm
Kalyan Jewellers India zooms on reporting around 27% consolidated revenue growth in Q2FY24 Kalyan Jewellers India is currently trading at Rs. 252.15, up by 17.85 points or 7.62% from its previous closing of Rs. 234.30 on the BSE.The scrip opened at Rs. 239.05 and has touched a high and low of Rs. 253.90 and Rs. 239.05 respectively. So far 290088 shares were traded on the counter.The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 261.95 on 01-Sep-2023 and a 52 week low of Rs. 90.00 on 22-Nov-2022.Last one week high and low of the scrip stood at Rs. 254.90...
Kalyan Jewellers India zooms on reporting around 27% consolidated revenue growth in Q2FY24
Kalyan Jewellers India zooms on reporting around 27% consolidated revenue growth in Q2FY24
Source: Accord Fintech
2023-10-06 12:26:24 pm
Asian Star Company soars on commencing operations at new manufacturing unit in Andheri Asian Star Company is currently trading at Rs. 858.80, up by 54.90 points or 6.83% from its previous closing of Rs. 803.90 on the BSE.The scrip opened at Rs. 823.55 and has touched a high and low of Rs. 858.80 and Rs. 811.00 respectively. So far 108 shares were traded on the counter.The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 885.00 on 11-Sep-2023 and a 52 week low of Rs. 627.75 on 23-May-2023.Last one week high and low of the scrip stood at Rs. 858.80 and R...
Asian Star Company soars on commencing operations at new manufacturing unit in Andheri
Asian Star Company soars on commencing operations at new manufacturing unit in Andheri
Source: Accord Fintech
2023-10-05 11:15:21 am
Diamond prices dip globally with consumers choosing services over jewellery Prices for rough diamonds -- the raw, unpolished, and uncut stones -- have dipped in 2023 as many post-pandemic consumers are shying away from luxury goods, the media reported.According to the Zimnisky Global Rough Diamond Index, prices are the lowest they?ve been in a year. Industry analysts attribute the slump to declining sales at the jewellery counter, CNN reported.As consumers spent less money on dining and travel during the pandemic, ?people had excess money to spend on discretionary pu...
Diamond prices dip globally with consumers choosing services over jewellery
Diamond prices dip globally with consumers choosing services over jewellery
Source: IANS
2023-10-02 12:00:25 pm