Meanwhile, the BSE Sensex was down 24.72 points, or 0.14% to 18,120.53.

On BSE, 86,000 shares were traded in the counter as against average daily volume of 3.45 lakh shares in the past one quarter.

The stock hit a high of Rs 412.50 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 396 so far during the day. The stock had hit a 52-week low of Rs 201.30 on 15 March 2011.

The stock had outperformed the market over the past one month till 22 February 2012, rising 33.65% compared with the Sensex's 8.4% gain. The scrip had also outperformed the market in past one quarter, surging 20.75% as against Sensex's 12.95% gain.

The mid-cap jewellery retailer has an equity capital of Rs 91.12 crore. Face value per share is Rs 10.

The Gitanjali Gems stock had surged 31.35% in nine trading sessions to settle at Rs 406.15 on Wednesday, 22 February 2012 from a recent low of Rs 309.20 on 8 February 2012. The stock surged on the back of good Q3 earnings reported by the firm.

On a consolidated basis, Gitanjali Gems' net profit rose 28.1% to Rs 128.86 crore on 32.9% growth in net sales to Rs 3526.28 crore in Q3 December 2011 over Q3 December 2010.

The Gitanjali Group has interests in diamond jewellery, retail and lifestyle businesses. In core diamond jewellery segment, the group has strategically integrated across the value chain. It has a strong presence at every level of the business, right from sourcing diamonds to retailing its products.

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