Sky Gold share price: Small-cap stock locked in 5% upper circuit on huge order win

Small-cap stock: Sky Gold share price was locked in the 5% upper circuit at 320.50 apiece on the BSE, after the company announced that it has obtained a significant recurring export order of 200 KG each month from one of the most esteemed names in the jewellery sector.

In a filing with the exchange, the company announced that the agreement involves upfront payments, which would improve their working capital cycle, and highlight the robustness of their customer relationships, as well as the increasing confidence in their manufacturing abilities and service quality. This milestone illustrates their strategic emphasis on broadening their customer base while providing value through reliable quality and prompt delivery, the company said.

“We believe this development will positively impact our operational performance and contribute meaningfully to shareholder value in the coming quarters. We take this opportunity to thank our dedicated team, business partners and all stakeholders for their continued support and confidence in Sky Gold’s vision,” said the company in an exchange filing.

Sky Gold has been involved in designing, creating, and selling gold jewelry since 2008. The company features a diverse selection of designs to cater to the tastes of its customers. They present a broad array of styles and incorporate studded American diamonds and/or colored stones in numerous jewelry items.

Sky Gold share price today

Sky Gold share price today opened at ₹318.90 apiece on the BSE. The stock touched an intraday high of 320.50 per share, and an intraday low of ₹300.05 apiece. 

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Sky Gold share prices are trading in a range with 300 acting as a support coinciding with 200 DSMA. As of now we don't see any major momentum but anyone holding longs can keep ₹300 as a stoploss on the flip side momentum would trigger above ₹340, the analyst said.

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