Gitanjali Gems soars on JV plan with Dubai firm

The Gitanjali Gems scrip increased 7.69 per cent to close the day at Rs 138.65 on plans to set up a JV Company with Dubai’s Damas LLC in India. Gitanjali Gems will set up a joint venture with Dubai's Damas LLC for retail trading of jewelleries and related accessories.

Damas LLC has received an approval from the Foreign Investment Promotion Board for setting up the JV. The stock made an intra-day high of Rs 142 and low of Rs 130. A total of 7.8 lakh shares changed hands in the Wednesday’s trade.