Gitanjali Gems enters into JV with ARMO Netherlands Finance

MUMBAI: Gitanjali Gems Ltd and ARMO Netherlands Finance BV plan a joint venture by subscribing equal number of equity shares of Morellato India Pvt Ltd.

The joint venture will carry on the business of importing, wholesaling, distribution and manufacturing of watches, leather goods, writing instruments, jewellery and other products under the brand names Morellato.

At 10 am, Gitanjali Gems shares were up 3.36 per cent at Rs 387.90 on BSE.