Sky Gold share price sparkles 5% on partnership with Aditya Birla Jewellery

Sky Gold shares were shining in trade on Wednesday, January 15, 2025. The company's shares jumped 5 per cent to the day's high of Rs 379.30 on the BSE during intraday trade on Wednesday. The northward move in the Sky Gold share price follows the news that the company has successfully onboarded Aditya Birla Jewellery, operating under the brand name Indriya.

 

"With ambitions to become one of the top jewellery retailers in India within the next five years, this collaboration marks a major step for Sky Gold Ltd. in aligning with premier brands that echo its values of quality and design excellence," said Sky Gold in a regulatory filing on the BSE.

 

Commenting on the development, Mangesh Chauhan, MD & CFO of Sky Gold, said, "This partnership reaffirms our reputation for unmatched craftsmanship and innovation. With India’s top jewellery retail chains set to open over 500 stores in the next three to five years, we are well-aligned with this growth trajectory, supporting our ambition of becoming a leading jewellery manufacturer."

 

"Our success lies in our deep understanding of both retail partners and end customers, enabling us to design products that resonate with evolving tastes and preferences. As we diversify into new segments like 18K gold and lab-grown diamonds, our focus remains steadfast on delivering exceptional quality and sustaining strong growth," Chauhan added.

 

Sky Gold, established in 2008, is a jewellery company based in Mumbai. The company designs, manufactures, and markets gold jewellery, specializing in lightweight 22-carat gold pieces. Sky Gold operates on a B2B model, supplying products to leading jewellery retailers and wholesalers across India. The company has a manufacturing facility in Navi Mumbai with a monthly gold processing capacity of 1,050 kg.

 

As of January 15, 2025, Sky Gold enjoys a market capitalisation of Rs 5,535.55 crore on the BSE.

 

Sky Gold shares have multiplied investors' wealth with a surge of 222.09 per cent in the last one year. 

 

The company's shares have a 52-week range of Rs 488.95–Rs 90.21 on the BSE.

 

At around 2:15 PM on Wednesday, Sky Gold shares were quoted at Rs 377.75, up 4.57 per cent from their previous close of Rs 361.25 on the BSE. A combined total of nearly 0.40 million equity shares of Sky Gold had exchanged hands on the BSE and NSE, estimated to be worth Rs 14.49 crore.

 

Meanwhile, the benchmark equity indices were trading in positive territory on Wednesday. The NSE Nifty50 was quoted at 23,182.20, up merely 0.03 per cent, while the 30-share Sensex was up 84 points at 76,583.77.