Gitanjali Gems soared 8.36% to Rs 73.90 at 10:13 IST on BSE after the company said its board will meet on 19 December 2008 to consider buyback of own shares.
The company made the announcement before market hours today, 15 December 2008.
The stock hit a high of Rs 74.40 and a low of Rs 70.95 so far during the day. The stock had a 52-week high of Rs 473.10 on 27 December 2007 and a 52-week low of Rs 57.25 on 21 November 2008.
The small-cap diamond and jewellery maker and retailer has an equity capital of Rs 85.06 crore. Face value per share is Rs 10.
The current price of Rs 73.90 discounts its Q2 September 2008 annualised EPS of Rs 16.55, by a PE multiple of 4.46.
Gitanjali Gems' net profit rose 31.1% to Rs 35.20 crore on a 21.7% rise in sales to Rs 728.27 crore in Q2 September 2008 over Q2 September 2007.
The company manufactures, exports and markets diamonds and jewellery. It owns a number of jewellery brands, including D'damas, Nakshatra, Sangini and Asmi.
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