Ramesh Damani Gains Rs 5.21 Crore in a Single Day from This Small-Cap Lab-Grown Multibagger Stock Hits Upper Circuit
The company is expanding its domestic retail operations under the brand ‘ORIGEM’
The Indian stock market is basking in buoyancy this Tuesday, with the benchmark indices reclaiming key levels. The Nifty50 index surged past the 25,000 mark, climbing 0.76 per cent, while the Sensex reclaimed 81,600, advancing 0.66 per cent. However, the real star of the show is the broader markets, where the Nifty Midcap and Small-Cap 100 indices have both soared by over 1 per cent, underscoring the strength across sectors.
Among the standout performers is a small-cap gem—Goldiam International Ltd, which has hit the upper circuit of 10%. This significant leap in stock price continues to reinforce the company's status as a multibagger, with its year-to-date (YTD) gains reaching an impressive 100 per cent.
Founded in 1986, Goldiam International has evolved into a leading supplier to global retailers, department stores, and wholesalers. Its diversified portfolio includes natural diamond jewelry and lab-grown diamonds (LGD). Goldiam’s value-added diamond jewelry business acts as a proxy for the robust US consumer and retail demand, allowing it to tap into a lucrative market.
Adding to its growth story, the company is expanding its domestic retail operations under the brand ‘ORIGEM’, which focuses on lab-grown diamond jewelry. Goldiam has made strategic moves in September, signing Leave & License Agreements for two retail locations: one at LT Road, Borivali West, and another at Kharghar, Navi Mumbai. The Kharghar store is set to open in Q3FY25, signaling continued growth in its domestic footprint.
The remarkable 100 per cent YTD rise in Goldiam’s stock has cemented its status as a multibagger, capturing the attention of investors and market watchers alike. Notably, ace investor Ramesh Damani holds a 1.58 per cent stake in the company, equating to 16,82,898 shares as of the June 2024 quarter.
Today’s 10 per cent upper circuit pushed the stock price up by Rs 31 per share. For Ramesh Damani, this translates into an unrealized gain of Rs 5.21 crore in just one day.
Disclaimer: The article is for informational purposes only and not investment advice.