National News
Budget 2025-26:Jewellery stocks surge on tariff duties reduction
Shares of jewellery companies surged up to 9% on the BSE today after the government, in its Union Budget 2025 presented by Finance Minister Nirmala Sitharaman, reduced tariff duties on jewellery to 20%.
On Feb 1 after budget announcement the shares of PN Gadgil Jeweller were up by 9% at Rs 615.55 on the BSE, while Senco Gold suged by 4.9% to Rs 492.55 and RBZ Jewellers shares going up by 3.46% at Rs 190.Kalyan Jewellers shares were up by 2.7% at Rs 3,584.60 .Titan rallied by 2.7% and Tribhovandas Bhimji Zaveri (TBZ) shares surged by 2.3%.
National News
Palmonas Raises $40 Million in Series B, Accelerates Omni-Channel Expansion
Shraddha Kapoor-Backed Demi-Fine Jewellery Brand to Scale Offline Retail and Strengthen Market Presence
Palmonas, the Shraddha Kapoor-backed demi-fine jewellery startup, has raised $40 million (approx. Rs. 373 crore) in a Series B funding round, led by Xponentia Capital and Vertex Growth Fund, with participation from existing investor Vertex Venture
The fresh capital will be utilised to expand its offline retail footprint, building on its growing omnichannel presence across online platforms and physical stores.
Founded in 2022 by Pallavi Mohadikar and Amol Patwari, with Shraddha Kapoor joining as co-founder, Palmonas operates in the demi-fine jewellery segment, offering affordable yet premium designs crafted from sterling silver and stainless steel with gold plating. The brand targets the space between fashion and fine jewellery, catering to a young, aspirational audience.
The company has seen rapid growth, with its operating revenue surging over 40X to Rs. 39 crore in FY25, up from Rs. 97 lakh in FY24. Notably, Palmonas also turned profitable, reporting a profit of Rs. 4.3 crore during the same period.
The brand had earlier raised Rs. 55 crore from Vertex Ventures and gained visibility through Shark Tank India Season 4, securing Rs. 1.26 crore funding from Namita Thapar and Ritesh Agarwal, at a Rs. 126 crore valuation.
Operating in a competitive space, Palmonas goes head-to-head with players such as GIVA, BlueStone, and Limelight Lab Grown Diamonds, as it continues to strengthen its position in India’s fast-growing demi-fine jewellery market.
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P. N. Gadgil & Sons Expands in Pune with New Store at Tribeca Highstreet; Launches 9KT Collection
P. N. Gadgil & Sons Expands in Pune with New Store at Tribeca Highstreet; Launches 9KT Collection
Palmonas Raises $40 Million in Series B, Accelerates Omni-Channel Expansion
Botswana Stepping Up Diplomatic Efforts To Complete The Removal Of US Tariffs
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New Premises4 hours agoP. N. Gadgil & Sons Expands in Pune with New Store at Tribeca Highstreet; Launches 9KT Collection
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National News6 hours agoPalmonas Raises $40 Million in Series B, Accelerates Omni-Channel Expansion
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DiamondBuzz3 hours agoBotswana Stepping Up Diplomatic Efforts To Complete The Removal Of US Tariffs
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BrandBuzz2 hours agoTriptii Dimri Launches Hues By Tanishq; Collection Showcases The Vibrant Colours Of Natural Gemstones
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