India is the global hub for cutting and polishing diamonds, processing nearly 90% of the world’s rough diamonds. Cities like Surat lead this sector, employing millions and driving significant export revenues. The emergence of lab-grown diamonds (LGDs) has opened new growth avenues, offering eco-friendly, cost-effective alternatives to natural diamonds. This shift has been supported by government initiatives, including research grants and duty reductions for LGD manufacturing.
Listed companies like Tata Group’s Titan Company Limited (Tanishq), Rajesh Exports, SJ Corporation Ltd., and Vaibhav Global are actively involved in the diamond and jewelry businesses. Additionally, players like Goldiam International and Lypsa Gems are focusing on LGDs (Lab Grown Diamonds). The sector’s evolution is poised to enhance India’s dominance in the global diamond market while meeting modern sustainability demands.
Share Price
The shares of SJ Corporation are locked at the Upper circuit of 5% at Rs. 48.5 as of December 12, 2024.
Recent Update
The company has announced the sale of its stake in Venus Infra, a partnership firm, for a consideration of ₹50,40,000. The buyers of the stake include Prikesh Munjal Kothari, Ritaben Vipulkumar Vaghani, and Ashok Mohanbhai Moradia. None of the buyers belong to the promoter, promoter group, or group companies of the selling entity.
This transaction marks a strategic decision by the company to divest its stake in Venus Infra. The sale is expected to streamline the company’s portfolio and focus on its core operations, aligning with its broader business objectives. The execution of the sale agreement was formally completed, as per the company’s disclosure.
About the Company
Incorporated in 1981, SJ Corporation Ltd operates in two key sectors: Gems & Jewelry and Real Estate Development. The company is involved in the manufacturing of diamond-studded jewelry and the trading of polished diamonds, catering to both domestic and international markets. Its expertise in crafting high-quality jewelry has established it as a trusted name in the industry.
In addition to its jewelry business, SJ Corporation is actively engaged in real estate development. Currently, the company is working on an ongoing land development project in Surat, a city renowned for its diamond and real estate sectors. With a focus on innovation and growth, SJ Corporation continues to expand its footprint across its core business domains.
Conclusion
The stake sale represents a strategic move by SJ Corporation to optimize its business portfolio. Operating in the thriving Indian diamond industry, which processes 90% of the world’s rough diamonds, the company demonstrates agility in a rapidly evolving market. By focusing on its core competencies in jewelry manufacturing and real estate development, SJ Corporation is positioning itself for sustainable growth. The transaction underscores the company’s commitment to strategic resource allocation and operational efficiency.
Written By: Dipangshu Kundu
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