Gitanjali gems rises on BSE

Gitanjali gems rises on BSE

One of India's best diamond companies to be listed on the market has performed really well on BSE today. As the news gains publicity that the company is planning to raise $100 million by way of restructuring the brand holding company through the divestment of 10% equity, the shares also rose. Gitanjali gems registered gains of 6.3% to Rs. 210.10 as compared to the 0.41% rise of the sensex in early trade hours on the BSE.

The past 2 week's average volume of the share was 9.22 lakh shares, as compared to today's trade of 8.09 lakh shares.

Gitanjali Gems annual net profit up by 33%

Gitanjali Gems annual net profit up by 33%

Leading gem and jewellery firm of the country Gitanjali Gems has declared its year-end financial results for the fiscal year 2009-10 and it has posted an impressive rise in net profit figure.

The company has registered a net profit of Rs 200 crore for the year that ended in 31st March, 2010. The consolidated net profit was reported to be Rs 150.5 crore for the financial year 2008-09. This net profit figure has grown up by 33% in this year as compared to the last fiscal.

The company manufactures and retails diamond jewellery in domestic as well as in the international market.

Gitanjali USA acquires 51% stake in Diamlink

Gitanjali USA acquires 51% stake in DiamlinkGitanjali Gems, one of India's leading integrated diamond and jewellery manufacturing and retailing companies, has informed that Gitanjali USA, a wholly owned arm of the company, has purchased 51% stake in Diamlink, New York based corporation.

Diamlink is engaged in the business of diamond and diamonds studded Jewelry.

With this acquisition, Diamlink has become a step down arm of the company.

Gitanjali to open 30 new jewels outlets in next four months

Gitanjali to open 30 new jewels outlets in next four monthsGitanjali Jewels, owned by the Gitanjali Group, has planned over 30 Gitanjali Jewels outlets across the country in the next four months.

The company, a leading manufacturer of diamond jewellery and known for its Gili and Nakshatra brands of ornaments, said that these branded jewellery outlets would be over and above the 30 Gitanjali Jewels outlets, and came at various locations across the country.

Gitanjali Gems increases stake in its own subsidiary company

Gitanjali Gems, a leading manufacturer and exporter of diamonds has announced that it has hiked its stake from 51 percent to 100 percent in "Gitanjali Exports Corporation Ltd" (GECL), a material non listed Subsidiary Company.

According to the sources, with the proposed hike, GECL has become the wholly owned subsidiary company of Gitanjali Gems.

Gitanjali introduces “RIVAAZ”, a new collection of 18K Gold CZ Jewelry

Gitanjali Group, the country's largest integrated jewelry maker and pioneer in branded jewelry has launched "RIVAAZ", a new line of Gold CZ jewelry in the Indian market.

According to the company, RIVAAZ is a collection of 18K Gold CZ Jewelry launched to give the consumers an exciting and affordable choice within Gold, fully backed with all the assurance and legacy of the Gitanjali Group.

The collection has more than 500 designs in rings, pendants, earrings, necklaces and bangles. It also has a range in religious pendants & Tanmanyas.

Gitanjali Gems plans to buy US jewel major Whitehall

Jewelry maker and retailer Gitanjali Gems Ltd has announced that the company plans to buy U.S.-based retail chain, Whitehall Jewellers Holdings.

The proposed deal will entail an investment of between Rs 3.5 to Rs 4 billion.

The deal will also strengthen company’s (Gitanjali Gems Ltd ) foothold in the US, which is the world`s biggest organized jewellery market.

Gitanjali Gems acquires 100% stake in three companies

Gitanjali Gems, a diamond and jewellery manufacturer has increased its stake in Fantasy Diamond Cuts. With the acquisition of shares, Fantasy Diamond Cuts, earlier a subsidiary company has become a wholly owned subsidiary of the company.

The company has also acquired 100% stake in two firms named Eureka Finstock and Decent Securities & Finance.

However, the company did not disclose the financial details of the acquisitions.

Gitanjali Gems posts Q3 results; net profit up 21.44%YoY

Integrated Diamond and Jewellery manufacturer, Gitanjali Gems has informed that the company has registered 21.44% increase in net profit at Rs 301.54 million for the quarter ended December 2007 as compared with Rs 248.29 million for the corresponding period in the previous year.

Net sales rose 4.88% to Rs 5,753.24 million for the quarter compared to Rs 5,485.23 million for the same quarter last year.

The company has posted a total income of Rs. 5 ,755 million for the quarter, higher by 4.84% as compared with Rs. 5,489 million for the same period, year before.