update

Gitanjali Gems gains on getting nod to raise funds up to Rs 175 crore:

• Gitanjali Gems has received an approval to raise funds up to Rs 175 crore by issue of Convertible Warrants to persons other than Promoters by way of preferential allotment in accordance with provisions of Companies Act, 2013 and the Securities and Exchange Board of India and other applicable statutory provisions. The board of directors at its meeting held on August 01, 2014 has approved for the same.
• Gitanjali Group is a 52-year-old company 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 Jewels owns brands like Asmi, Diya, Gili, Nakshatra, Sangini and Parineeta.
• The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 108.75 on 22-May-2014 and a 52 week low of Rs 48.10 on 20-Dec-2013.
• The promoters holding in the company stood at 36.08% while Institutions and Non-Institutions held 20.32% and 43.61% respectively.
• Last one week high and low of the scrip stood at Rs 72.40 and Rs 68.10 respectively. The current market cap of the company is Rs 658.27 crore.
• The scrip opened at Rs 70.15 and has touched a high and low of Rs 71.80 and Rs 69.80 respectively. So far 75392 shares were traded on the counter.
• Gitanjali Gems is currently trading at Rs 71.50, up by 2.40 points or 3.47% from its previous closing of Rs. 69.10 on the BSE.