Gitanjali Gems ,India's leading branded jewellery producer and retailer,reported 55.2 per cent increase in its net profit at Rs. 123.7 crore for the quarter ended June as compared to Rs. 79.7 crore in corresponding quarter of previous financial year. Backed by the double digit growth in the retail jewellery sales in the US the company posted 39per cent jump in sales at Rs. 2595.3 crore for the first quarter of the current fiscal year compared to Rs. 1865.9 Crore in comparable quarter of last fiscal year.
The current price of the scrip is Rs.312.55 as on 16.08.2011 against Rs.311.10 on previous trading day. The gain was small because the market fell today by 74,59 pointson BSE.The stock will give good teturn by Diwali and one should acquire on declines.
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