Mumbai, Mar 25 (PTI) Flawless Diamond India today said it will consolidate its retail business of designer gem and jewellery as a cost cutting measure.
In the present business environment, the board has decided to take firm steps for cost cutting and improve the bottomline, Flawless Diamond India said in a filing to the Bombay Stock Exchange.
Further, the company board has also decided to take steps for creating more visibility of its designer products with better value addition, it said.
Besides, the company is also looking to talk and negotiate with potential investors and financiers for better terms to raise finance, the Mumbai-based company said.
However, the company believes that looking at the current scenario the performance of its retail business is quite satisfactory.
"The overall retail business of gems and jewellery is picking up due to the marriage season," it added.
Shares of Flawless Diamond surged over two per cent and were trading at Rs 14.95 in the afternoon trade on the BSE.
