Gitanjali Gems Intraday Buy Call

Gitanjali Gems Intraday Buy CallTechnical Analyst Simi Bhaumik has maintained 'buy' rating on Gitanjali Gems Limited stock with an intra-day target of Rs 282.

Mr. Bhaumik said that the stock can be purchased with a stop loss of Rs 267.

The stock of the company, on April 05, closed at Rs 273.55 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 395 and a low of Rs 95.10 on BSE.

Current EPS & P/E ratio stood at 22.76 and 12.03 respectively.

Gitanjali Gems Ltd has got hold of major Italian jewellery chain Giantti Italia worth $15 million.

The top jewellery brands owned by Giantti comprise Valente, Stefan Hafner, Nouvelle Bague, Io Sì And Porrati.

The Italian brand acquirement will assist Gitanjali Gems enter worldwide markets where Indian brand appealing lacks because of India's 'ethnic' approach.

This would permit India's top branded jewellery maker to launch novel light weight jewellery designs particularly in European and the West Asian markets.

This was the third big acquirement by the Gitanjali after Samuels Jewellers Inc and Rogers, both US firms, the company bought in the year 2007.