Shree Ganesh Jewellery rises on entering into JV with Italian company

31 Oct 2011 Evaluate

Shree Ganesh Jewellery is currently trading at Rs 155.50, up by 0.55 points or 0.35% from its previous closing of Rs 154.95 on the BSE.

The scrip opened at Rs 155.00 and has touched a high and low of Rs 155.70 and Rs 153.00 respectively. So far 11020 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 286.00 on 28-Jun-2011 and a 52 week low of Rs 117.20 on 22-Aug-2011.

Last one week high and low of the scrip stood at Rs 159.90 and Rs 149.55 respectively. The current market cap of the company is Rs 940.28 crore.

The promoters holding in the company stood at 70.66% while Institutions and Non-Institutions held 15.87% and 13.47% respectively. 

Shree Ganesh Jewellery House has entered into a joint venture (JV) with an Italian company SALP S.P.A. specialists in machine made light weight gold jewellery to set up a gold jewellery manufacturing unit in India.

Recently, the company was planning to three fold its retail business’ turnover to Rs 1,200 crore in the next two years. In this regard, the company had launched a new brand, Gaja Lites, to tap the growing fashionable, light-weight gold and diamond jewellery market. The weight range for Gaja Lites will vary between one to 20 gms with 18 to 22 karat gold. In the premium segment, Shree Ganesh had two brands -- Gaja Heritage and Gaja.

Shree Ganesh Jewellery House is one of the largest manufacturers and exporters of handcrafted gold jewellery in India. Its  products include handcrafted and hallmarked gold jewellery, gold enameled jewellery and gold jewellery studded with precious stones such as diamonds, rubies, emeralds, sapphires, pearls, etc. and semi-precious stones such as garnet, cubic zirconium, etc.

Peers
Company Name CMP
Titan Co 3443.45
Kalyan Jewell.India 407.40
Rajesh Exports 279.45
Sagar Diamonds 28.80
Senco Gold 924.00
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