Bharat Diamond Bourse to stop operations amid surge in COVID cases

By: |
April 05, 2021 9:18 PM

The country's largest diamond exchange Bharat Diamond Bourse has decided to stop operations amid spiralling coronavirus cases in the city.

diamond marketThe Mumbai-based bourse, which handles around 98 per cent of the country's diamond exports, will close its operations from 8 pm onwards on April 5. Representative image/Pixabay

The country’s largest diamond exchange Bharat Diamond Bourse has decided to stop operations amid spiralling coronavirus cases in the city. The Mumbai-based bourse, which handles around 98 per cent of the country’s diamond exports, will close its operations from 8 pm onwards on April 5 “till further communication”, according to a communication sent to its members.

The exchange decided to take this step after the Maharashtra government announced restrictions across the state due to the spread of the pandemic, the communication said. Bharat Diamond Bourse is spread over 20 acres in the Bandra Kurla Complex that houses nearly 2,500 small and large diamond traders.

The complex also has customs house, banks and other service providers, who cater to the gems and jewellery trade. Members have been asked to carry their cheque books, valuables, laptops and other necessary documents before vacating the premises on Monday, as per the communication. The members have been requested to keep alarm systems functional as part of security requirement. Mumbai had reported the highest single day count of 11,163 coronavirus cases on Sunday.

As on Monday, Mumbai’s caseload stood at 4,62,302. Alarmed by the huge rise in cases over the last few days, the state government on Sunday announced a weekend lockdown and night curfew during the weekdays from April 5 to 30 in addition to a slew of other restrictions.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Exit of Gaurav Gupta does not warrant any disclosure under listing regulations: Zomato
2Analyst Corner – Auto PLI scheme: NEVs remain the centrepiece
3Corporate bond yields ease on demand from mutual funds, insurers