Gitanjali Gems Enters Into Advertising Agreement With BCCL (21-Jan-2012)
Gitanjali Gems has entered into advertisement agreement with Bennett, Coleman and Company (BCCL). As on date, BCCL holds 10,75,000 equity shares of Rs 10 each of the company, constituting 1.18% of the total paid up capital of the company. Further it has been stated that no management control or potential conflict of interest is arising out of such agreement.
The Times Group also referred as Bennett, Coleman and Company is the largest media conglomerate in India. The company has eleven publishing centre's, fifteen printing centre's, five dailies, including two of the largest in the country with approx 4.3 million, copies circulated daily.
Gitanjali Group's has operational presence starting from sourcing of rough diamond, cutting, polishing and distributing, to jewellery manufacturing, which includes designing, mould making, wading, casting, sprue grinding, filing, polishing and setting. The company was first to offer diamond studded jewellery at reasonable prices.
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