Multibagger penny stock under Rs 30 jumps after receiving an order from AB Diamonds India Pvt Ltd

On Monday, shares of Mini Diamonds (India) Ltd jumped 8.3 per cent to an Intraday high of Rs 24.40 per share from its previous closing of Rs 22.54 per share. The stock’s 52-week high is Rs 43.60 while its 52-week low is Rs 19.50. The shares of the company saw a Spurt in Volume by more than 1.01 times on the BSE.

Mini Diamonds (India) Limited (MDIL) has reached a significant milestone by securing a domestic purchase order valued at Rs 12 crore from Mumbai-based AB Diamonds India Private Limited. Under the terms of this agreement, MDIL is tasked with the supply of lab-grown polished diamonds, a transaction that highlights the company’s expanding footprint within the Indian market. The contract specifies a strict execution timeline, requiring the full delivery of the order within four months from the award date. Financial terms are equally defined, with payment scheduled to be settled on or before 150 days following the completion of the order.

The acquisition of this contract represents a strategic advancement for MDIL as it adds a new client to its domestic portfolio. Management views this partnership as a vital opportunity to demonstrate service reliability and product consistency, which are expected to foster long-term customer retention and repeat business. By fulfilling this substantial order within the designated timeframe, the company aims to enhance its credibility in the competitive lab-grown diamond sector. This development is projected to strengthen MDIL’s domestic channel relationships and provide a more predictable demand pipeline as it continues to scale its operations within India.

About the Company

Mini Diamonds, a public limited company established in 1987, has a strong track record in the diamond import and export business. With its state-of-the-art manufacturing facility in Mumbai equipped with advanced technology, Mini Diamonds excels in cutting and polishing diamonds, ensuring precision and quality at every stage. The company also manufactures exquisite lab-grown diamond jewellery, catering to both domestic and international markets through B2B and B2C channels. Mini Diamonds' commitment to innovation, craftsmanship, and strategic marketing positions it as a leader in the lab-grown diamond industry, offering exceptional value and beauty to customers worldwide.

The company has a market cap of over Rs 270 crore and debtor days have improved from 186 to 139 days. The shares of the company have a PE of 50x and an ROE of 13 per cent. The stock gave multibagger returns of 510 per cent in just 2 years and a whopping 3,200 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.