Sky Gold and Diamonds share price movement
Sky Gold and Diamonds’ share price hit a new high of ₹1,021.95, surging 6 per cent on the BSE in Thursday’s intraday deals in an otherwise subdued broader market.
Thus far in October, Sky Gold’s stock price rallied 26 per cent. Since April, so far in the financial year 2026-27, it zoomed 221 per cent or up 3.2-fold from a level of ₹318.15 on March 30, 2026.
At 01:41 PM, Sky Gold quoted 3 per cent higher at ₹994.80, compared to a 2 per cent rise in the BSE Sensex. However, the BSE 250 Smallcap index and the BSE 150 Midcap index were down 0.78 per cent and 0.19 per cent, respectively.
What’s driving Sky Gold’s share price?
Sky Gold and Diamonds is a leading manufacturer of gold jewellery, renowned for its precision craftsmanship and innovative design. With a design library of over 9,00,000+ styles, the company offers a wide range of rings, chains, mangalsutra, bracelets, pendants, earrings, and customized jewellery, often enhanced with American diamonds, Natural Diamonds, Lab Grown Diamonds and colour gemstones. Sky Gold has long-standing relationships with major retail chains such as Joyalukkas, Malabar and Senco Gold.
International expansion is one of the most important strategic levers for Sky Gold’s next phase of growth. Sky Gold has established a presence in Dubai, targeting the substantial GCC gold jewellery market. The Dubai office serves as Sky Gold’s base for Middle Eastern business development, supporting client relationships and product customisation for GCC preferences. From 3 per cent of export revenue contribution in FY23 to 12 per cent of the revenue, the business has grown materially, analysts at Equirus Securities said, according to the FY26 annual report takeaways.
Meanwhile, Sky Gold opened its first overseas office, a B2B sales office in Dubai, in early November 2025, as the hub for its Middle East growth strategy. Export sales are routed through the Dubai office (₹150 crore from first full quarter of operation), and the company has onboarded new international customers including DAMAS and KANZ in the UAE.
The management has guided for exports to rise to around 20 per cent of total sales by FY29-30, with the UK, Malaysia and Singapore identified as additional growth markets alongside the existing Gulf business.
Sector outlook
India is one of the largest markets in the world for buying, making and exporting gold and diamond jewellery. Jewellery in India carries a cultural weight well beyond adornment: it is deeply tied to weddings, festivals and family savings, with bridal jewellery alone estimated to account for 50-55 per cent of total gold jewellery demand.
The market is typically classified into gold jewellery (plain and studded), diamond and precious-stone jewellery, silver and platinum jewellery, and antique, bridal or designer collections, Sky Gold said in its FY26 annual report.
A large part of the market – traditional, family-run jewellers – remains unorganised, but the organized segment, made up of branded chains and listed companies, is both growing faster and gaining share.
Industry estimates put the organised segment’s share of the overall Indian jewellery market at roughly 36-38 per cent in FY24, rising to about 42-43 per cent by FY28, as more customers move towards certified, hallmarked jewellery bought from recognised brands and, increasingly, online or through omni-channel formats.
This organized retail shift is structurally important for the company: as a B2B manufacturer, its own growth is closely tied to the expansion plans of these organised retail chains rather than to unorganised, owner-run jewellery shops, Sky Gold said. Disclaimer: Views and outlook in this report belong to the brokerages and analysts cited. They do not reflect the views of Business Standard. Readers are advised to exercise discretion.
