MUMBAI (Commodity Online): Engaged in the business of sourcing of rough diamonds and retailing of finished diamonds, Suashish Diamonds Ltd (BOM: 526733) witnessed a record rise of over 68% within past five trading sessions on the Bombay Stock Exchange (BSE).

Company stocks today, traded with gains of close to 16% at Rs.355, which is up by over 68% since Monday, October 5, 2009 from Rs.211 till recently. The company’s board of directors have approved the de-listing of the company’s equity shares from BSE.

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The company made this announcement after market hours on Thursday, 8 October 2009.

The company had said on 5 October 2009 that its board will consider a proposal to delist equity shares from the bourses on 8 October 2009.

The small-cap stock has outperformed the market in the past one quarter, surging 84.09% as compared to the Sensex's return of 22.33%.

Suashish Diamonds' net profit declined 1.8% to Rs 18.65 crore on 1.3% rise in net sales to Rs 233.98 crore in Q1 June 2009 over Q1 June 2008.

The company, thorough its wholly-owned subsidiary, Suashish diamond (Botswana Pvt Ltd has set up a diamond cutting and polishing centre in Botswana, which is a producer of rough diamonds.

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