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Gitanjali group consolidates US biz

Press Trust of India  |  New Delhi 

today said the group has undertaken consolidation of its US business by merging four of the subsidiaries into two firms with an aim to bring down cost and improve operation efficiency.

In a filing, the company said the group has merged Abbey LLC and Tri-Star Worldwise LLC into Gitanjali Inc. The name of the surviving entity has been changed to Tri-Star Worldwide Inc.

Diamlink Jewelery Inc and Jewelery Marketing Company LLC have been merged into Diamlink Inc and later the name of the surviving entity has been changed to 'Jewelery Marketing'.

"This consolidation exercise is undertaken with a view to reduce cost and improve efficiency of operations."

of the company fell by 4.16 per cent to Rs 56.40 apiece on the today.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 10 2017. 20:22 IST