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Sky Gold Ltd. aims to enter the lab-grown diamonds market within two quarters. The company also plans to boost exports to 15% of total revenue, focusing on Middle Eastern markets.
Sky Gold Ltd. is gearing up to enter the lab-grown diamonds segment within the next two quarters. The company is closely analysing the growing demand for lab-grown diamonds in India and intends to create samples soon. This strategic move reflects the rising interest in sustainable and cost-effective alternatives to natural diamonds while maintaining a focus on domestic and export markets.
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Timeline: Entry into lab-grown diamonds market within two quarters.
Export Focus: Aims to increase export contribution to 15% of revenue.
Key Export Regions: Middle East, including UAE, Dubai, and Qatar.
Domestic Market: Expected to contribute 80-85% of total revenue.
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Sky Gold Ltd. plans to allocate up to 20% of its revenue to exports, focusing on the Middle Eastern markets where it already has a client base. With partners like Kalyan Jewellers expanding in these regions, the company seeks to leverage its established relationships to grow its footprint.
Revenue Contribution | Focus Regions |
80-85% | India |
15-20% | Middle East (UAE, Qatar) |
Shares of Sky Gold Ltd. rose over 4% during intraday trading on Wednesday, reaching ₹4,560 apiece, before closing at ₹4,530. This increase reflects market optimism around the company's diversification plans and potential revenue growth from lab-grown diamonds and export expansion.
The company’s decision to explore the lab-grown diamonds market aligns with growing consumer acceptance of these alternatives. This move, along with its export strategy, is expected to support sustained growth and have a positive impact on the Sky Gold share price in the coming quarters.
Sky Gold Ltd.’s foray into the lab-grown diamonds market demonstrates its commitment to innovation and market adaptation. Coupled with its focus on export growth, the company is poised to strengthen its revenue streams and solidify its presence in both domestic and international markets.
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