Our Bureau

Mumbai, July 25

Gitanjali Gems Ltd, one of the oldest diamond houses in India, has acquired jewellery retailer Desire Lifestyle Pvt Ltd in line with its policy of strategic acquisitions and further expansion in retail operations. The company has acquired 100 per cent stake in Mumbai-based Desire Lifestyle. Gitanjali Gems owns a number of jewellery brands including D'damas, Nakshatra, Sangini and Asmi. Shares of the company rose by 1.48 per cent to close at Rs 112.80 on BSE.

(This article was published in the Business Line print edition dated July 26, 2006)
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