Gitanjali Gems surges on merging its step down subsidiary with Imacbc

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

22 Apr 2013 Evaluate

Gitanjali Gems is currently trading at Rs. 634.20, up by 30.20 points or 5.00 % from its previous closing of Rs. 604.00 on the BSE.

The scrip opened at Rs. 590.00 and has touched a high and low of Rs. 637.50 and Rs. 590.00 respectively. So far 1, 90,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 637.50 on 02-Apr-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. 607.45 and Rs. 575.00 respectively. The current market cap of the company is Rs. 5,838 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, one of the world’s largest integrated jewellery manufacturers, has merged its step down subsidiary Gems London Co. with Tokyo based Imacbc Co.

Gitanjali Gems held 30% stake in Gems London Co. through its Hong Kong based wholly owned subsidiary, Aston Luxury Group. Currently, Gems London is one of the largest sellers of jewellery through its TV channel, Gems TV in Japan. Its revenues for the financial year 2012-2013 exceeded $ 90 million.

Gems London Co. was merged with Tokyo based lmacbc Co. with effect from April 10, 2013. After the merger, Imacbc shall become completely integrated company from sourcing raw material from Thailand and China, manufacturing in two facilities in China, to retailing in Japan.

In addition to selling through Gem TV, the merged Imacbc plans to expand its existing jewellery retail network in Japan. The combined revenue of consolidated business is expected to be more than double in next 2 years.

Gitanjali Gems Share Price

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Peers

Company Name	CMP
Tital Company	4293.10
Kalyan Jewell.India	380.45
Rajesh Exports	97.75
Senco Gold	327.85
Thangamayil Jeweller	5559.00
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