Gem and Jewellery companies suffer at Indian stock exchanges.

Online Special: Most companies in the gem and jewellery industry faced a slack in their growth rates at the Indian stock exchanges. Rennaisance Jewellery fell 79 percent to 34.70 from last year when it stood at 164.80. Vaibhav Gems too had a hard fall with 84 percent, valued at 35.4 from 199.20 last year. Classic Diamond was at 30.45 on October 3, 2008, as compared to 91.06 a year ago, retarding by 66 percent. Rajesh Exports, with 8000 crore of net sales, four times more than its next peer competitor, was valued at 26, while last year it was valued at 149.37, falling by 82 percent. Geetanjali Gems, inspite earning a net sales of 2000 crore, too entered the slowdown bracket valuing at 187 from 336.75 a year ago, falling 44.4 percent. Shrenuj and Co. survived a smaller dip of 23 percent and stood at 39.50, while a year ago it was at 51.60.

Standing starkly a winner, Suashish Diamond reported a 98 percent rise and valued at 372, from 188.50 last year. The average value of most dominant companies of gem and jewellery industry has fallen in their share prices by almost 50 percent.