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In an interview to CNBC-TV18, Abhishek Gupta, Group Advisor at Gitanjali Gems spoke about the results and discussed the company's performance.
Akamai Technologies, Inc. (NASDAQ:AKAM), the global leader in Content Delivery Network (CDN) services, has announced a partnership with TLabs – ...
Supply concerns are expectedly proving overdone. RBI OMO/government buyback Rs 558 billion (Rs63 billion so far) would clear the market, says a Bank of America Merill Lynch report.
Abhishek Gupta, president, Gitanjali Gems, says gold companies face immediate working capital pressures due to recent RBI guidelines, which prohibit jewellers to buy gold on credit.
Gitanjali Gems has acquired two jewellery brands — Nirvana and Viola. In an interview to CNBC-TV18, Abhishek Gupta, president, Gitanjali Gems says Nirvana is a 15-year old brand having access to almost 106 shop-in-shops. "Viola has got an access to 60 shop-in-shops," he adds.
Jewellery sales in Dhanteras surged by up to 30 per cent, both in value as well as volume terms, belying fears of muted response due to high gold prices.
Abhishek Gupta, president of Gitanjali Gems says the company has seen a surge of almost 45-50 percent this festive season in diamond jewellery alone. "Margin will definitely improve because the diamond jewellery has better margins," he adds. He expects 30-35 percent growth in revenues this year.
Gitanjali Gems expects gold prices to stabilise going forward, which will then help boost demand.
