Gitanjali Gems, a Mumbai-based diamond and jewellery maker and retailer, on Monday said that it would consider the buy back of equity shares of the company in its board meeting on 19 December.
At Friday's closing of Rs 68.20 a share on the Bombay Stock Exchange, the stock price of the company has lost a 85.6% from its all time high about a year back.
After company's announcement of the buy back of shares, the stock price of the company reached a high of Rs 78.45. At 1245 hrs, the stock was trading at Rs 70.60 a share on the BSE, a 3.52% higher than the previous closing.