Sky Gold and Diamonds' share price hit a new high of ₹1,021.95, surging 6% on the BSE in Thursday's intraday trade, according to reports from Business Standard. The stock has demonstrated exceptional performance with a 26% rally in October alone and an impressive 221% surge or 3.2-fold increase since April 2026, rising from ₹318.15 on March 30, 2026. At 01:41 PM, Sky Gold quoted 3% higher at ₹994.80, outperforming the BSE Sensex's 2% rise while the BSE 250 Smallcap index and BSE 150 Midcap index declined 0.78% and 0.19% respectively. As per Business Standard, the stock's performance came in an otherwise subdued broader market, highlighting the company's strong investor appeal.
Sky Gold and Diamonds operates as a leading manufacturer of gold jewellery with a design library of over 9,00,000+ styles, offering rings, chains, mangalsutra, bracelets, pendants, earrings, and customized jewellery enhanced with American diamonds, Natural Diamonds, Lab Grown Diamonds and colour gemstones. The company maintains long-standing relationships with major retail chains such as Joyalukkas, Malabar and Senco Gold. According to analysts at Equirus Securities, export revenue contribution grew from 3% in FY23 to 12% of total revenue, with the company opening its first overseas office in Dubai in early November 2025 as a hub for Middle East business development.
The company's international strategy has shown strong results, with export sales routed through the Dubai office generating ₹150 crore from the first full quarter of operation. Sky Gold has onboarded new international customers including DAMAS and KANZ in the UAE. Management has guided for exports to rise to around 20% of total sales by FY29-30, with the UK, Malaysia and Singapore identified as additional growth markets alongside existing Gulf business. The Dubai office serves as Sky Gold's base for Middle Eastern business development, supporting client relationships and product customisation for GCC preferences, as reported by Business Standard.
India represents one of the world's largest markets for gold and diamond jewellery, with bridal jewellery alone estimated to account for 50-55% of total gold jewellery demand. The market is classified into gold jewellery, diamond and precious-stone jewellery, silver and platinum jewellery, and antique, bridal or designer collections. According to Sky Gold's FY26 annual report, the organized segment's share of the overall Indian jewellery market is expected to grow from 36-38% in FY24 to 42-43% by FY28, as customers increasingly move towards certified, hallmarked jewellery from recognized brands and online formats. This organized retail shift is structurally important for Sky Gold as a B2B manufacturer, as its growth is closely tied to expansion plans of organized retail chains rather than unorganized jewellery shops.
