Gitanjali Gems declined 3.19% to Rs 244.30 at 10:58 IST on BSE after the company said on Wednesday, 26 March 2008, it has acquired 100% shares of Modali Jewels, earlier a joint venture company.
The stock hit a high of Rs 252.05 and a low of Rs 244.05 so far during the day. The stock had a 52-week high of Rs 480 on
The company’s current equity is Rs 85.06 crore. Face value per share is Rs 10.
The current price of Rs 244.30 discounts its Q3 December 2007 annualized EPS of Rs 14.22, by a PE multiple of 17.18.
Gitanjali Gems’ net profit rose 20.70% to Rs 26.85 crore on 19.80% rise in net sales to Rs 598.28 crore in Q2 September 2007 over Q2 September 2006
Modali Jewels (MJPL) is engaged in establishing and operating chain of showrooms/outlets for selling gold & diamond studded jewellery. After the acquisition, it has become a wholly owned subsidiary of Gitanjali Gems.
In January 2008, Gitanjali Gems acquired 100% shares Mumbai based Brightest Circle Jewellery, which is engaged in manufacturing, distributing and selling of diamonds and jewellery products.
In December 2007, the company’s wholly owned subsidiary Gitanjali Lifestyle signed a memorandum of understanding with Mariella Burani Fashion Group,
The company manufactures, exports and markets diamonds and jewellery. It owns a number of jewellery brands, including D'damas, Nakshatra, Sangini and Asmi.
No comments:
Post a Comment