The Gitanjali Gems Ltd, an integrated diamond and jewellery maker cum retailer, has announced that the company has acquired ‘Nakshatra’, the premium brand of diamond jewellery promoted by Diamond Trading Company (DTC) through its Dubai-based subsidiary, 'Gitanjali Ventures DMCC'.

Gitanjali Gems will now have full ownership of the premium jewellery brand. It earlier held a 33% stake.

A market expert said that ‘Nakshatra’ acquisition will increase the market share for Gitanjali in its jewellery business and give further help its overall margins

Separately, Gitanjali Gems announced that it has acquired 100% stake of Brightest Circle Jewellery Pvt. Ltd, earlier an associate company. By way of this acquisition Brightest Circle Jewellery Pvt. Ltd has become a wholly owned subsidiary of the Company.

Mumbai-based, Brightest Circle Jewellery is engaged in manufacturing, distributing and selling of diamonds and jewellery products.

In the recent past, Gitanjali, through its subsidiary, signed up with Italy’s Mariella Burani Group (MBFG) to form a joint venture.

At 11:55 am, Gitanjali Gems was quoting at Rs 438. It has touched an intraday high of Rs 452 and an intraday low of Rs 425.