Page 2 - Gitanjali Gems
ICICI Bank takes Gitanjali Gems to insolvency court over Rs 6.08-bn dues
Mumbai, 3 OctoberThe National Company Law Tribunal's (NCLT's) bench here has admitted Gitanjali Gems under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code, a sequel to ICICI Bank's petition in this regard. The bank is lead lender to the jewellery company and is seeking to recover Rs 6.08 billion through the CIRP. Gitanjali has borrowed a total of Rs 59.8 bn from various banks, in the form of working capital loans and External Commercial Borrowing. Gitanjali and its promoter, Mehul Choksi, have been accused of a criminal conspiracy, cheating and money laundering, in collusion with a branch manager and other employees of Punjab National Bank (PNB, in what has come to be know as the Letters of Understanding scam. The amount in question is put at Rs 140 billion. Choksi is evading summons and is said to be 'hiding' in the Antigua & Barbuda group of islands. Choksi's nephew, Nirav Modi, promoter of Nirav Modi Global Diamond Jewellery House and ...
 "ICICI Bank takes Gitanjali Gems to insolvency court over Rs 6.08-bn dues")
Gitanjali Gems falls below face value at Rs 9.65; tanks 85% in six weeks
The stock hit a new low of Rs 9.65, down for the 26th straight sessions.
 "Gitanjali Gems falls below face value at Rs 9.65; tanks 85% in six weeks")
Gitanjali Gems continue to lose sheen, shares plunge 60.5% in 8 days
On NSE, the stock slipped 4.99 per cent to hit its lower price band of Rs 24.75
 "Gitanjali Gems continue to lose sheen, shares plunge 60.5% in 8 days")
Gitanjali Gems shares continue to nose-dive, fall over 58% in 7 days
In seven days, the stock has plunged 58.5 per cent, eroding Rs 4.35 billion from its m-cap
 "Gitanjali Gems shares continue to nose-dive, fall over 58% in 7 days")
Jewellery shares fall; Rajesh Exports, Renaissance Jewellery down over 6%
Gitanjali Gems, Rajesh Exports, Renaissance Jewellery, Goldiam International, Lypsa Gems, PC Jeweller and Asian Star Company were down 5% to 8% on the BSE.
 "Jewellery shares fall; Rajesh Exports, Renaissance Jewellery down over 6%")
Gitanjali Gems nears record low; stock tanks 46% in four days
The stock locked in lower circuit for the third straight trading days, hit fresh 52-week low of Rs 33.80, trading close to its all-time low of Rs 29.95 touched on March 1, 2016.
 "Gitanjali Gems nears record low; stock tanks 46% in four days")
Gitanjali Gems Q1 profit up 21% at Rs 69 cr on robust sales
Revenue from the diamond business increased significantly to Rs 1,662.96 crore
Gitanjali Gems does an image check
The jewellery manufacturer has consolidated its leading brands under Nakshatra World
Gitanjali Gems loses SEZ project
Company's gems and jewellery SEZ was notified on June 9, 2008, and a formal approval expired on October 24, 2011
 "Gitanjali Gems loses SEZ project")
Gitanjali Gems surges post Q1 results
The stock moved higher to its 52-week high of Rs 57.40, up 20% on the BSE.
 "Gitanjali Gems surges post Q1 results")
Gitanjali Gems posts 3-fold jump in Q1 net profit to Rs 57 crore
It had clocked net profit of Rs 19.91 crore in the same period in 2015-16
 "Gitanjali Gems posts 3-fold jump in Q1 net profit to Rs 57 crore")
Gitanjali Gems to expand in diamond retailing
The share price of Gitanjali Gems, jewellery manufacturer and exporter, hit a 52-week high last week, with its plan to capture the global recovery in diamond jewellery demand and other luxury items.
 "Gitanjali Gems to expand in diamond retailing")
Ambitious growth plans helps Gitanjali Gems' stock soar high
Stock hit 52-week high last week after firm's efforts to restore confidence among investors pays off
 "Ambitious growth plans helps Gitanjali Gems' stock soar high")