Provogue shines bright on tie-up with Gitanjali jewels

DALAL STREET SPIKES

The Provogue stock spurted more than 17 per cent on the BSE to close at Rs 169.35, following news that one of country's oldest and biggest diamond retailers Gitanjali Jewels has tied up with the apparel retailer to sell jewellery at its 75 stores.

The stores will have both men's and women's range of jewellery. Provogue came out with an IPO in mid-June 2005 to finance the expansion of the company's retail stores and its garment manufacturing and design capabilities.

The stock has staged a recovery from the November 11, 2005 close of Rs 125.85 on renewed buying interest. Volume also swelled at the counter with 21,02,012 shares changing hands.