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Saturday, December 19, 2009

Classic Diamonds (India) Ltd:Buy/sell/hold,growth prospects and recomendation,news and results,target price and analysis,views and outlook

Scripscan:Classic Diamonds (India) Ltd
BSE code:523200

Story:Classic Diamonds is a stock in focus, with the company announcing global tie-ups and setting up a lot of retail outlets.The company's Dubai operations over the last few years have also been very lucrative, in terms of the loose diamond business as well the jewellery business.The company is now gearing up for the production of the larger type of diamonds, which would yield higher margins and a larger array of products for the customers to suit their requirements.The US sector which was absorbing 45 to 50% of the jewellery manufactured by the company has seen a steep fall due to lack of demand support.But after the reforms and stimulus packages announced by the new President the market seems to be improving but at a very slow pace. Hopefully, the second half of next year 2010 will see the better times.Classic has timely turned over to other markets such as Europe, Middle East and Far East where the demand for it jewellery products are warmly welcomed.The company has a clear objective to enhance market share of its jewellery produce in the domestic and international market, and to reach out to the end user thereby eliminating middlemen,and at the same time check out for opportunities for use of final product of one sector as input to the other sector.The company had a lacklustre last year due to the recession worldwide.With improving scenario the company hopes to be a 1000crs company soon.Considering all the developments and aspects,Classic Diamonds (India) Ltd is a good hold at present levels.

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