Goldiam International shares zoom 25% in three sessions; here’s why

Shares of Goldiam International zoomed 25% in three sessions after ace investor Ashish Kacholia bought stake in the company in the December quarter. The stock of the integrated manufacturer and supplier of fine diamond jewellery maker, which closed at Rs 138.85 on January 10 rose to an intraday high of Rs 173.70 on BSE today, translating into gains of 25.09% during the period. Goldiam International stock hit an intraday high of Rs 173.7, rising 5.02% on BSE today. Goldiam International shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

In 2023, Goldiam International stock has gained 26% but lost 12.47% in one year.

Total 2.05 lakh shares changed hands amounting to a turnover of Rs 3.47 crore on BSE. Market cap of Goldiam International rose to Rs 1,846.57 crore. The stock hit a 52-week high of Rs 209.41 on January 18, 2022 and  a 52 week low of Rs 116.75 on June 20, 2022. In the previous session, Goldiam International shares hit an intraday high of Rs 167, rising 16% on BSE.

In terms of technicals, the relative strength index (RSI) of Goldiam International stands at 78, signaling the stock is overbought. The stock has a one-year beta of 1.1, indicating high volatility during the period. 

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According to the recent shareholding pattern on the BSE, Kacholia owned 1.01% stake amounting to 11,02,527 equity shares in the jewellery manufacturer and exporter during the December 2022 quarter. The ace investor did not hold any stake in September 2022 quarter. Other veteran investors Ramesh Damani and Mukul Agrawal also own stakes in the firm. Damani owned 1.58% stake while Mukul Mahavir Agrawal had 2.75% equity as of December 2022 quarter, as per the BSE data.

Goldiam International is engaged in the manufacturing and export of diamond-studded gold and silver jewelry. The company is a fully integrated original equipment manufacturer (OEM) partner for retailers. It operates through two segments: jewellery manufacturing and investment activity. The company's products include engagement rings, wedding bands, anniversary rings, bridal sets, fashion jewelry earrings and pendants, and fashion jewellery and necklace and earrings.