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Mehul Choksi Gitanjali
Gitanjali Edges Toward Liquidation
Gitanjali Gems, whose chairman is a suspect in India’slargest bank fraud, is expected to go into liquidation, after its lendersrejected a recovery plan.Creditors voted by a 54% majority on March 28 not to extend Gitanjali’s “corporate-insolvency resolution process,” a six-month window during which...
Financial-Legal Apr 18, 2019 Rapaport News
Loupe & Polished diamonds
Diamond Prices Slide as Year Begins with Caution
RAPAPORT PRESS RELEASE, February 5, 2019, Las Vegas … Polished-diamond prices softened in January as US restocking proved slower than expected after the holiday season, and as Far East buyers took vacation ahead of the Chinese New...
Polished Markets Feb 05, 2019 Rapaport
Gitanjali 150
Gitanjali Loses Sightholder Status
De Beers has terminated the sightholder status of Gitanjali Gems following fraud allegations against the Indian jeweler’s managing director,Mehul Choksi. De Beers took the decision in February, meaning Gitanjalican no longer make any purchases from...
Financial-Legal Apr 16, 2018 Joshua Freedman
Gitanjali Chief Tells Staff to Find New Jobs 150
Gitanjali Chief Tells Staff to Find New Jobs
Gitanjali Gems managing director Mehul Choksi has told the company’s employees to look for another job, as asset seizures have made it impossible to pay salaries, The Times of India reported.Indian authorities are investigating Choksi...
Financial-Legal Feb 25, 2018 Rapaport News
Rapaport Research Report: India in Focus 150
Rapaport Research Report: India in Focus
India holds a dominant position in the diamond industry, coming closer than any other market to spanning the entire pipeline. Besides its extensive rough and polished trade, it has made a name for itself in jewelry-making,...
Polished Markets Feb 22, 2018 Avi Krawitz
India Bank Allegations Widen 022118 150
Investigation into $1.8B Jewelry Fraud Intensifies
Indian authorities have reportedly arrested five senior executivesat Nirav Modi Group and Gitanjali Gems as investigations continue into amassive fraud case involving the two companies.Punjab National Bank (PNB) has alleged the...
Financial-Legal Feb 21, 2018 Joshua Freedman
gitanjali
Sales and Profit Jump for India’s Gitanjali
Gitanjali Gems’ revenue grew 19% to $2.58 billion (INR 165.73billion) in the fiscal year that ended March 31, the Indian jewelry retailer reported.Diamond sales jumped 20% to $599 million (INR 38.54 billion)for the...
Retail Jun 15, 2017 Rapaport News
gitanjali
Gitanjali’s Sales and Profit Jump
Gitanjali Gems’ revenue and profit soaredin the first fiscal quarter as higher jewelry sales outweighed a dip in diamondrevenue.Group sales on a consolidated basis grew 30percent to $553.5 million (INR 37.1 billion) in the three months that...
Retail Sep 21, 2016 Rapaport News
Gitanjali store
Gitanjali Profit +51% as Jewelry Outpaces Diamonds
Gitanjali Gems,one of India’s largest jewelry retailers, said revenue and profit surged in thepast fiscal year driven by a strong performance in its jewelry division whileits diamond revenue slid. Group salesjumped 22 percent to $2.08 billion (INR...
Retail May 31, 2016 Rapaport News
gitanjali
Gitanjali's 4Q Revenue +27%, Loss Shrinks
Gitanjali reported that its revenue rose 27 percent year on year to $544.1 million (INR 34.87 billion) during the fourth quarter that ended on March 31, 2015. The group's loss narrowed to $5.9 million (INR...
Manufacturing Jun 04, 2015 Ronen Shnidman
gitanjali
Gitanjali Consolidates Retail Segment to Streamline Operations
Gitanjali Gems will consolidate its various jewelry retail subsidiaries as part of the group's effort to streamline operations by reducing costs and improving cash flow, the company reported.In a note to the Bombay Stock Exchange (BSE),...
Financial-Legal Apr 22, 2015 Deena Taylor
gitanjali
Gitanjali's 3Q Revenue +25%, Profit +90% to $15M
Gitanjali Gem Ltd. group revenue jumped 25 percent year on year to $554.3 million (INR 34.5 billion) in the third quarter that ended on December 31. The company's expenses rose 30 percent to $520.4 million (INR 32.3...
Financial-Legal Feb 13, 2015 Jeff Miller
gitanjali
India Approves Three Trademarks for Gitanjali Gems
India's Office of The Trade Marks Registry approved three trademarks under the Class 14 description for diamond and jewelry company Gitanjali Gems Ltd. The trademark "Gitanjali Jewels" was approved on December 22 with registration...
Financial-Legal Dec 30, 2014 Jeff Miller
gitanjali
Gitanjali's Revenue -42%, Profit +34%
Gitanjali Gems Ltd. reported that revenue fell 41.6 percent year on year to $250.8 million (INR 15.26 billion) in the first quarter that ended on June 30. Expenses were reduced 43 percent to $232.8 million (INR...
Financial-Legal Aug 14, 2014 Jeff Miller
samuels jewelers
Samuels Jewelers Plans Grand Opening Near Austin
Samuels Jewelers Inc., which operates Andrews Jewelers, Rogers Jewelers, Samuels Diamonds and Schubach Jewelers, is holding a grand opening of its newest location near Austin, Texas on August 14 in Sunset Valley. The new Samuels Diamonds...
Retail Aug 06, 2014 Jeff Miller
Gitanjali Store
Gitanjali's 4Q Revenue -42%, Reports Loss
Gitanjali Gems Ltd. reported that its revenue fell 42 percent year on year at $465.7 million (INR 27.54 billion) in the fourth quarter that ended on March 31. However, the company reported a loss of $15.4 million...
Financial-Legal Jun 01, 2014 Deena Taylor
Gitanjali Store
Gitanjali's 3Q Revenue -37%, Profit -71%
Gitanjali Gems Ltd. reported that its revenue declined 37 percent year on year to $447 million (INR 27.59 billion) in the third quarter that ended on December 31. The company's earnings fell 71 percent to $8.2 million...
Financial-Legal Feb 16, 2014 Deena Taylor
gitanjali
Gitanjali's Share Price Jumps in Final Week of 2013
Shares in Gitanjali Gems Ltd. have risen 45 percent this week in heavy trading, closing at INR 72.05, or about $1.16, on the Bombay Stock Exchange (BSE) on December 31. Despite the healthy advance, shares in the company...
Financial-Legal Dec 31, 2013 Jeff Miller
gitanjali
Gitanjali Jewels Opens in Jhansi
Gitanjali Jewels opened in Jhansi, India, marking the retailer's 104th location in the country. The store was designed to reflect the region's ethnic leanings and traditional values, while highlighting the company's namesake brands,...
Retail Nov 18, 2013 Jeff Miller
Gitanjali Store
Gitanjali's 2Q Revenue -24%, Profit -74 %
Gitanjali Gems Ltd. reported that its revenue declined 24 percent year on year to $477.9 million (INR 30.04 billion) in the second quarter that ended on September 30. The company's earnings dropped 74 percent to $6.5 million...
Retail Nov 17, 2013 Deena Taylor
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