Best Diamond Stocks in India

India is the world’s largest diamond cutting and polishing hub, where about 90% of diamonds are processed. Cut & polished diamond exports in 2025 were around US$13.3 billion, which is lower than in previous years. However, amid this decline, the demand for lab-grown diamonds is growing rapidly and opening up new opportunities for India. At such a time, it is important for investors to keep an eye on diamond stocks. By understanding the right diamond company share price and India’s top diamond companies, you can expect good returns from this sector in the coming years.

Overview of India’s Diamond Industry

Today, India’s diamond industry is not just limited to cutting and polishing, but it is gradually becoming an innovation and technology-driven sector. The world’s largest diamond research and trading hub has been set up in Surat in 2025, which is giving impetus to both lab-grown diamonds (LGD) and digital trading.

India’s gems and jewelry industry is worth about US$ 40 billion, of which diamonds have the largest share. The special thing is that now domestic consumption is also growing rapidly. The retail market of diamond jewelry in metro cities is growing at the rate of 8–10% every year. This means that now it is not just an export-driven industry, but India’s top diamond companies are also taking their brands to Indian consumers.

Lab-grown diamonds have become the pivot of this change. In the 2025 budget, the government has encouraged research and startups on LGD, due to which small and medium level players are also entering this business. This is a big step towards making India a sustainable and affordable diamond supplier.

Although there are challenges – such as US tariff pressure, fears of a global recession and the presence of unorganised players experts believe that India can become the world’s largest lab-grown diamond exporter in the next five years.

10 Best Diamond Stocks in India (2025)

S. No.	Company	Current Market Price (INR)	Market Capitalisation (in INR crore)	52-Week High	52-Week Low
1	Titan Company Ltd	₹ 3,383	₹ 3,00,311	₹ 3,782	₹ 2,925
2	Kalyan Jewellers India Ltd	₹ 461	₹ 47,554	₹ 795	₹ 399
3	PC Jeweller Ltd	₹ 12.3	₹ 8,107	₹ 19.6	₹ 10.2
4	P N Gadgil Jewellers Ltd	₹ 610	₹ 8,273	₹ 830	₹ 474
5	Ethos Ltd	₹ 2,536	₹ 6,786	₹ 3,270	₹ 1,897
6	Senco Gold Ltd	₹ 341	₹ 5,576	₹ 772	₹ 227
7	Rajesh Exports Ltd	₹ 182	₹ 5,380	₹ 298	₹ 151
8	Goldiam International Ltd	₹ 376	₹ 4,250	₹ 569	₹ 251
9	Sky Gold & Diamonds Ltd	₹ 264	₹ 4,081	₹ 489	₹ 246
10	Laxmi Goldorna House Ltd	₹ 928	₹ 1,936	₹ 959	₹ 274

Read Also: Best Jewelry Stocks in India

A brief overview of the best Diamond Stocks in India is given below:

1. Titan Company Ltd

Titan Company Ltd was started in 1984 as a joint venture of Tata Group and Tamil Nadu Industrial Development Corporation. The company started its journey with watches and later gradually entered into jewelry, glasses and lifestyle accessories. Titan’s biggest and most famous brand is Tanishq, which gave a new identity to the Indian jewelry sector. Titan has played an important role in delivering diamond and gold jewelry to customers in an organized and reliable manner. Today Tanishq has become synonymous with premium jewelry not only in urban but also in semi-urban areas. Apart from this, Titan has also created a strong identity among young customers and online consumers with brands like Fastrack and CaratLane.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
-11.34%	29.18%	181.73%

2. Kalyan Jewellers India Ltd

Kalyan Jewellers was established in 1993 in Kerala and today it is one of the largest jewelry retail chains in India. The specialty of the company is that it offers a mix of traditional and modern designs, which attracts customers from every class and every region. Kalyan’s strength lies in its transparent policies, hallmarking and customer trust. It has introduced collections to the Indian jewellery market as per regional tastes, such as heavy gold jewellery for South India and light and modern designs for North India. The company has a strong retail presence across the country and is also successfully operating internationally in the Middle East countries.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
-37.25%	374.41%	520.69%

3. PC Jeweller Ltd

PC Jeweller Ltd was established in Delhi in 2005. It started with a single showroom and in a few years, the company became a well-known jewellery retail chain across the country. PC Jeweller deals in both traditional and modern designs and has been especially popular for its wedding collections. It has always emphasized on hallmarking and design variety. The company has created a trusted brand image among customers, especially in the markets of North India.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
-33.04%	49.58%	762.94%

4. P N Gadgil Jewellers Ltd

The history of P N Gadgil Jewellers dates back to 1832, making it one of the oldest jewellery companies in India. Started in Pune, this company has maintained the trust of customers for generations. It is known especially for Maharashtrian traditional jewellery and excellent craftsmanship. With time, P N Gadgil also adopted modern designs and now it has a collection for every age and taste. The company has moved beyond local identity and has also made its presence felt at the national level.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
-19.94%	–	–

5. Ethos Ltd

Ethos Ltd was founded in 2003 and is synonymous with luxury retail in India. The company started with high-end watches but gradually expanded to premium jewellery and lifestyle products. Ethos specializes in offering a world-class experience to Indian customers with global luxury standards. Its stores are present in major cities across the country, offering select and exclusive collections. Ethos has created a niche and trusted brand position among affluent customers.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
-25.57%	154.05%	–

6. Senco Gold Ltd

Senco Gold Ltd was started in Kolkata in 1938. The company is known for traditional and modern jewellery designs in Eastern India. Senco’s collections are always in great demand in Bengali weddings and festivals. The company has won the trust of customers by focusing on hallmarking and design innovation. Now Senco has expanded its presence from Kolkata to the entire country and is working towards establishing it as a pan-India brand.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
-44.96%	–	–

7. Rajesh Exports Ltd

Rajesh Exports Ltd started in Bengaluru in 1989 and today it is counted among the largest jewellery companies in the world. The company does everything from refining to designing and retail, due to which it runs on a completely integrated model. Its brand Shubh Jewellers is very popular in South India and its designs made keeping in mind the traditional Indian taste are its special identity. Rajesh Exports has also strengthened its presence globally.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
-33.49%	-67.06%	-59.64%

8. Goldiam International Ltd

Goldiam International Ltd was established in 1986 and is a specialist in diamond jewellery design and export. The company has focused on lab-grown diamonds in recent years, making it a leader in sustainable and eco-friendly options. Goldiam’s designs are preferred in international markets like the US and Europe. Ethical sourcing and modern designing are its biggest strengths.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
0.41%	181.93%	1,418.75%

9. Sky Gold & Diamonds Ltd

Sky Gold & Diamonds Ltd was started in Mumbai in 2008. The company specializes in making lightweight and contemporary jewelry, which especially attracts young customers. Sky Gold produces products for the domestic market as well as international customers. Its USP is to provide modern designs at affordable prices, due to which it is creating a distinct identity in the mass market.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
8.98%	1868.18%	1,168.34

10. Laxmi Goldorna House Ltd

Laxmi Goldorna House Ltd was established in Gujarat in 2010. This company is active in both jewelry manufacturing and trading. Its specialty is to create collections according to traditional Indian designs and regional preferences. The company has made its products more attractive by adopting modern technology and finishing. It has a strong identity in Gujarat and surrounding states and now it is gradually expanding nationally.

Know the Returns: 

1Y Return (%)	3Y Return (%)	5Y Return (%)
226.82%	3901.77%	5,898.38%

Check out: List of Gems, Jewellery And Watches Sector Stocks

Key Performance Indicators (KPIs)

The key performance metrics of Best Diamond Stocks in India are mentioned below:

Company	Operating Margin (%)	Net Profit Margin (%)	ROE (%)	ROCE (%)	Debt to Equity
Titan Company Ltd	9.07	5.51	28.70	36.93	1.56
Kalyan Jewellers India Ltd	5.46	3.18	14.41	19.47	0.40
PC Jeweller Ltd	22.44	25.73	9.32	8.05	0.33
P N Gadgil Jewellers Ltd	4.33	2.81	13.69	19.90	0.51
Ethos Ltd	12.06	7.85	10.02	12.38	0.00
Senco Gold Ltd	5.74	2.64	8.33	16.00	0.89
Rajesh Exports Ltd	0.05	0.02	0.60	1.50	0.06
Goldiam International Ltd	22.13	14.99	15.81	22.55	0.01
Sky Gold & Diamonds Ltd	6.16	3.73	19.39	30.25	0.92
Laxmi Goldorna House Ltd	25.55	12.02	16.23	16.57	1.57

Why Invest in Diamond Stocks in 2025?

1. Rapidly growing demand for lab-grown diamonds : Lab-grown diamonds (LGD) have proven to be the biggest game-changer for India in the last few years. Their exports reached about 7.5 million carats in 2024-25, a big jump compared to previous years. International buyers are now increasingly shifting to LGDs due to their low price and eco-friendly image.
2. Government support and new policies : The government has eased import rules on LGD-seeds in the 2025-26 budget and promoted research projects in institutions like IIT-Madras. The direct effect of this is that the production cost of companies will decrease and the Indian diamond industry will become more competitive in the global market.
3. Rise of luxury consumption in the domestic market : Not only exports, the domestic market is also increasing the demand for diamond jewellery. The consumption of diamond jewellery is continuously increasing in metro cities as well as Tier-2 and Tier-3 cities. Jewellery sales have registered a growth of 5% in the first half of 2025 itself, which has benefited retail-focused companies a lot.
4. Companies focus on branding and diversification : Today India’s top diamond companies are not limited to just exports. Many companies are now opening their branded stores, strengthening retail channels and increasing investment in lab-grown diamonds. This change is making their business models more stable and attractive to investors.

Factors to Consider Before Choosing Diamond Stocks

1. Business model : First of all, it is important to understand how the company operates. Is it only into cutting and polishing, only into trading or is it also active in new areas like design, branding and lab-grown diamonds (LGD). The more diversified the model, the lower the risk.
2. Dependence on exports : India’s cut & polished diamond exports declined to about US$13.3 billion in FY2024-25. In such a situation, if a company’s income is completely dependent on exports, then fluctuations in the global market, such as US tariffs or a decrease in demand, can directly impact its shares.
3. Profit margins : Operating margins in the diamond sector are generally low, around 4–5%. These margins can decrease further when raw material prices, tariffs and labor costs increase. Therefore, it is important to look at the company’s efficiency and cost management before investing.
4. Financial position : This industry is capital-intensive. If a company has a lot of debt or working capital is under pressure, then the interest burden may increase for it. Investing in such companies can be risky.
5. Investing in lab-grown diamonds : LGD’s share has reached about 8% of total polished diamond exports in 2025. Companies that are investing in this technology may have a big growth opportunity in the future.
6. Domestic market and branding : Companies with strong retail networks and brand value do not depend only on exports. Their business model is considered more stable and better for long-term investment.

Risks & Challenges in Diamond Investing 

1. Cyclical nature of demand : The biggest risk of the diamond industry is its cyclical nature. Sales can suddenly increase or decrease depending on the wedding season, festive demand and international economic conditions. This also makes the performance of the stock unstable.
2. Competition between lab-grown and natural diamonds : Lab-grown diamonds are becoming cheaper rapidly, which is putting pressure on the demand for natural diamonds. If a company lags behind in adopting this change in time, then its growth can be affected.
3. Inventory and cash flow pressure : Diamond companies have to hold inventory i.e. stock for a long time. This stock can be worth billions of rupees and until the sale is done, there is a direct pressure on cash flow. This is a matter of concern especially for small investors.
4. Transparency and corporate governance : Questions have been raised many times on accounting practices and transparency in the diamond sector. If the corporate governance is weak in a company, then the risk for shareholders increases further.
5. Challenge of technology and certification : Today customers buy not just the diamond but also the assurance of its authenticity. New technologies like AI-based grading and blockchain tracking are expensive. Companies that do not invest in these may find it difficult to survive in international markets.

Read Also: Best Gold Stocks in India

Conclusion

India’s diamond sector has always been an important part of our identity and is taking a new direction in 2025. Lab-grown diamonds, changing consumption habits and government support are preparing it for the future. Still, like every investment, there are ups and downs and challenges. If you choose the right companies and keep an eye on market trends, diamond stocks can provide both strength and better returns to your portfolio.

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