Gitanjali Gems up 3.45% on US acquisition

MUMBAI: Gitanjali Gems has acquired 100 per cent stake in Rogers Ltd, a retail jewelry chain in the US. Rogers operates 46 stores in US with current revenues equivalent to $80 million. It operates under brand names 'Rogers Jewelers' and 'Andrews Jewelers'.

This acquisition will offer a range of synergies to Gitanjali's existing operations.

At 12:26 pm, Gitanjali Gems shares were up 3.45 per cent at Rs 388.25 on BSE.