Gitanjali Gems inches up on incorporating step-down subsidiary company in Singapore

Gitanjali Gems Ltd. | Diamond & Jewellery | Consumer Durables | BSE: 532715 | NSE: GITANJALI

15 Mar 2012 Evaluate

Gitanjali Gems is currently trading at Rs. 381.50, up by 0.65 points or 0.17% from its previous closing of Rs. 380.85 on the BSE.

The scrip opened at Rs. 376.60 and has touched a high and low of Rs. 382.70 and Rs. 373.00 respectively. So far 452,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 443.40 on 13-Mar-2012 and a 52 week low of Rs. 209.00 on 21-Mar-2011.

Last one week high and low of the scrip stood at Rs. 443.40 and Rs. 360.15 respectively. The current market cap of the company is Rs. 3,476.00 crore.

The promoters holding in the company stood at 54.36% while Institutions and Non-Institutions held 24.28% and 21.36% respectively.

Gitanjali Gems through its Hong Kong based wholly owned subsidiary 'Aston Luxury Group', has incorporated 'Leading Singapore Jewels' in Singapore. The company has incorporated it with a view to expand its business in Singapore and Far Eastern regions. The main activity of 'Leading Singapore Jewels' is retailing and distribution of jewellery.

Recently, Gitanjali Gems had merged Giantti ltalia s.r.l, a Milan based subsidiary of the company with a leading ltalian Jewels s.r.l., another subsidiary of the company based at Valenza, ltaly. This merger was part of ongoing exercise of re-aligning and restructuring of international business of the company.

Gitanjali Group has operational presence starting from sourcing of rough diamond, cutting, polishing and distributing, to jewellery manufacturing, which includes designing, mould making, wading, casting, sprue grinding, filing, polishing and setting. The company was first to offer diamond studded jewellery at reasonable prices ones, jewels and jewellery.

Gitanjali Gems Share Price

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Peers

Company Name	CMP
Titan Company	4475.30
Kalyan Jewell.India	390.65
Thangamayil Jeweller	6147.90
Rajesh Exports	93.51
Senco Gold	331.90
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