Next Potential Multibagger Stock

Published : 27 October 2023

Sky Gold Limited is engaged in the business of designing, manufacturing, and marketing gold jewelry. It mainly deals in 22 karat gold jewelry, offering a wide variety of designs to suit the preferences of the end customer. It manufactures jewelry for Kalyan Jewellers, Senco Gold and Malabar Gold.

Key metrics



Jubilant FoodWorks Limited  is one of the India’s largest food service Company

₹ 533.90





1 Month Return

₹ 757 Cr.

Market Cap

Industry overview

With an average domestic demand for gold of 800-900 tons per year, India is the world's second-largest gold market, contributing roughly 25% of global gold demand. 

Industry overview

The demand for gold in India is driven mostly by jewelry (73.1%), coins (6.9%), industrial (1.4%), ETFs (2.7%), and bullion (15.9%). The gold sector has enormous development potential. The industry is predicted to quadruple its GDP contribution from 1.3% in 2016 to 2.5% to 3.0% with sufficient policy stimulus.

How did the New Gold Standards change the fate of Sky Gold?

From April 2023 onwards all gold jewelry and artifacts will need to mandatory carry a 6-digit alphanumeric HUID or Hallmark Unique Identification by the government as per New Gold Standards. 

How did the New Gold Standards change the fate of Sky Gold?

Earlier small gold manufacturers used to manufacture 20 karat gold and tag it as a 22 karat gold which will be changed by New Gold Standards. Here, Sky Gold can take advantage as it has expertise in 22 karat jewelry, because of which it can get more contracts.