Rs 10.19 crore worth of orders: This gems & jewellery company bags 3 orders for lab-grown diamonds from domestic & international clients

The stock is up by 87.3 per cent from its 52-week low is Rs 55 per share.

Dev Labtech Venture Limited received 3 orders for lab-grown diamonds worth a total of Rs 10.19 crore from domestic and international clients.

• The first order is from a domestic Indian firm for Rs 1 crore worth of lab-grown cut and polished diamonds. The payment terms are 150 days and the supply is to be made within 7 days.
• The second order is from an American Jewellery LLC Company for USD 5,00,000 (approximately Rs 4.18 crore) worth of lab-grown diamonds (CVD) of different sizes. The quantity is 5,000 carats and the payment terms are net 120 days. The supply is to be made as per the schedule shared by the customer.
• The third order is from a USA Inc. Jewellery Company for USD 6,00,000 (approximately Rs 5.01 crore) worth of lab-grown diamonds (CVD) of 5,000 carats. The payment terms are net 120 days and the supply is to be made within 6 months.

Dev Labtech Venture Ltd, founded in 1993, is a leading manufacturer of both natural and lab-grown diamonds for jewellery applications. They've recently transitioned into lab-grown diamond production using the MPCVD method, which allows for faster and purer diamond creation. While they still process natural diamonds in various shapes and qualities for jewellery and industrial uses, lab-grown diamonds now make up a significant portion of their business. These lab-grown diamonds have additional applications beyond jewellery, including machining tools, heat conductors, and components in electronics and semiconductors. Dev Labtech Venture Ltd caters to a clientele of diamond jewellery manufacturers across India for both natural and lab-grown stones.

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On Friday, shares of Dev Labtech Venture Limited gained 0.10 per cent to Rs 103 per share with an intraday high of Rs 106.90 and an intraday low of Rs 102.50 from its previous closing of Rs 102.90. The stock’s 52-week high is Rs 136.89 and its 52-week low is Rs 55. The company had a market cap of Rs 85.19 crore. The stock is up by 87.3 per cent from its 52-week low is Rs 55 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.