Gitanjali gems acquired

Thebullishtrends: Gitanjali Gems shares are trading at Rs.243(-Rs.9.35). Gitanjali Gems Ltd has increased stake as in Gili India Ltd. Earlier the Company was holding majority interest in Gili India Ltd and pursuant to this acquisition; it has become a wholly owned subsidiary of the Company.Further the Company has informed that, Gili India Ltd, a Company incorporated under Companies Act, 1956, having its registered office at Plot No. 68, Part II, Street No. 13, Marol Industrial Estate, MIDC, Andheri (E) Mumbai - 400 093, owns one of the India's first retail Jewellery brand 'Gill'.



The Company is leading manufacturer of diamond-studded jewellery which is marketed through franchisees all across India and in the Middle East Countries as well as Europe & other Western Countries under the brand name "Gili".Gili was accorded 'Super Brand' status by the Indian Consumer Superbrands Council, in 2004. It was also featured among the top ten jewellery brands in the country by the GJEPC magazine Solitaire International.