Indian jewelry giant Gitanjali Gems will announce acquisition of a diamond-jewelry brand at a press conference on Tuesday in Mumbai, a company spokesperson confirmed to National Jeweler.

Gitanjali Gems, which made headlines last year with its $20 million acquisition of U.S. chain retailer Rogers Ltd., will acquire Nakshatra, which Gitanjali Gems describes as "India's premium diamond-jewelry brand." The move is the latest in a series by the Mumbai-based company as it looks to raise its profile in India and around the world.

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