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Gitanjali Gems surges on getting shareholders’ nod to raise up to $250 million

07 Mar 2013 Evaluate

Gitanjali Gems is currently trading at Rs 605.80, up by 3.70 points or 0.61% from its previous closing of Rs 602.10 on the BSE.

The scrip opened at Rs 602.80 and has touched a high and low of Rs 607.20 and Rs 599.90 respectively. So far 97932 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 617.90 on 28-Feb-2013 and a 52 week low of Rs 296.50 on 27-Jun-2012.

Last one week high and low of the scrip stood at Rs 617.90 and Rs 567.00 respectively. The current market cap of the company is Rs 5578.25 crore.

The promoters holding in the company stood at 59.00% while Institutions and Non-Institutions held 18.75% and 22.25% respectively.

Gitanjali Gems has received shareholders’ nod to raise up to $250 million via various ways including foreign currency convertible bonds and qualified institutional placement. The company has received the approval through postal ballot process for its special resolution.

Gitanjali Group is a 52-year-old entity having stores outside the country including USA. It is only in the last few years that it is concentrating on retail markets to boost revenue. Gitanjali has a presence in more than 60 cities across India with 90 stores.

Peers
Company Name CMP
Titan Company 4636.45
Kalyan Jewell.India 574.65
Thangamayil Jeweller 6434.05
Rajesh Exports 85.79
Senco Gold 364.45
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