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Indian company Rajnish Retail breaks records by crafting rarest white diamond in lab

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Spotlight WireLast Updated: Jan 14, 2025, 04:09:00 PM IST

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Synopsis

Rajnish Retail Limited achieved a 510% sales increase in late FY 2023-24. The company expanded its product range, boosting revenue by 350%. Its market value reached ₹250 crores. Rajnish Retail secured a ₹1,500 crore order from De Beers and Signet Jewelers. Analysts see potential for significant growth if the company's momentum continues.

Rajnish Retail Limited has set a new benchmark in the Indian jewellery and diamond market with its phenomenal financial performance. In the third and fourth quarters of FY 2023-24, the company recorded an unprecedented 510% sales growth. This is a massive jump compared to the previous year's financial figures. The company has created the rarest of rare white diamonds in the lab in record time. This innovative breakthrough is a revolution for the entire diamond industry and has the potential to change global market dynamics.

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Rajnish Retail's overall revenue increased by 350% in FY2023-24. The company's market capitalisation has reached ₹250 crores.

Following this major development, the company has received a huge order worth ₹1,500 crore from the world's leading diamond companies, De Beers and Signet Jewelers, for exporting white diamonds. Market analysts now predict an increase in the company's valuation, ranging from ₹2,000 crore to ₹3,500 crore.

Strategic moves that drove growth
In July 2024, the company decided to expand its product range from 15 to over 100 items. This strategic expansion helped target multiple consumer segments, directly impacting the company's sales and revenue. This move highlights Rajnish Retail's approach to portfolio diversification and growth.

India is the world's largest diamond polisher and the second-largest diamond market globally. By 2032, the global diamond market is estimated to reach $138 billion. Market analysts suggest that this phase of Rajnish Retail Limited creates an attractive opportunity for investors. If this momentum continues, both the company's stock and valuation could see substantial growth.

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