Promoter Rashesh Bhansali Sold 1 Million Shares – Mukul Agrawal and Ashish Kacholia Exit in 2023!
The company’s shares have delivered an impressive return of around 125 per cent in just 3 months.
Shares of Goldiam International trading flat today, following news that Rashesh Manhar Bhansali had reduced its holding in the company. Rashesh Manhar Bhansali has over 28 years of rich and exhaustive experience in the field of diamonds & jewellery.
Rashesh Manhar Bhansali sold 10,00,000 shares, at an average price of Rs 340 per share. The total value of the stake sale amounted to Rs 34 crore. Earlier last year Ace investors Ashish Kacholia and Mukul Mahavir Agrawal also owned a stake in the company which they sold in March and June 2023 respectively. Currently, Ramesh Dhamani holds a 1.58 per cent stake in the company.
Incorporated in 1986, Goldiam International Ltd is engaged in manufacturing and exporting gold and diamond jewelry to global retailers. The company has launched a B2B e-commerce website to cater to a new market segment within the US retail jewelry industry. Production is now completed and shipped within 1 week, compared to the previous model where deliveries took 8-10 weeks. The company is targeting small, independent, mom-and-pop jewellers across North America.
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On Wednesday, this Small-Cap company’s stock opened the day at Rs 339 per share on the BSE compared to yesterday’s closing price of Rs 336.15 per share. The current market capitalization of the company stands at Rs 3,555.74. Additionally, the stock has delivered a multibagger return of around 125 per cent in just 3 months.
As per the Quarterly Results, in the first quarter of FY25, Goldiam International Ltd recorded a revenue of Rs 166 crore. The operating profit stood at Rs 30 crore. The net profit for Q1 was Rs 22 crore. Looking at the annual performance, the company generated a revenue of Rs 603 crore in FY24, compared to Rs 533 crore in FY23. The operating profit for FY24 was Rs 114 crore, with a net profit of Rs 91 crore.
Disclaimer: The article is for informational purposes only and not investment advice.