Gitanjali Gems has acquired 100% stake in N & J Finstocks and after the acquisition N & J Finstocks - earlier a promoter group company has now become a wholly owned subsidiary of the company.
The company is also planning to acquire assets of DIT Group S.p.A. (DIT), an Italy based jewellery company, which operates in the area of manufacturing, marketing, and sale of jewels and owns some of the reputed brands like Stefan Hafner, IO Si, Roberta Porrati and LA Nouvelle Bague etc.
Gitanjali Gems is one of leading players in jewellery segment. It was the first group company to engage in cutting and polishing of diamonds in Surat, Gujarat. Today this $900 million multinational group is one of largest manufacturer, retailers and exporters of diamonds.
The company reported consolidated net profit of Rs 100.56 crores for the quarter ended December, 2010 against Rs 80.03 crore in the corresponding quarter a year ago. Its net sales grew to Rs 2654.17 crore from Rs 2509.71 crore in the same period previous fiscal.
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