Gitanjali Gems Ltd: Buy on Declines

Gitanjali Gems Ltd was recommended yesterday at around Rs.33.5. The scrip today touched an intra-day high of Rs.39, before closing at Rs.37.75 in the BSE.

The company's consolidated Q1 net for the quarter ended June 2015 nearly tripled to Rs.28.05 crore when compared with Rs.10.15 crore in the corresponding quarter a year ago. Total income also surged by nearly 42 percent to Rs.2,952 crore from Rs.2,082 crore. 

The scrip should be accumulated on declines as it could cross Rs.60, by this Deepawali..........