can you explain this in simple language?
Technically I see a bottom has been made at 287 levels.
Overall sentiment has been improved and now if we can get an clarity on titan outsourcing from IGIL it can add value to the company.
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I feel people are getting a bit confused here. Titan is not a recognised diamond certification laboratory so if they want to sell certified diamonds, they will have to take services from labs such as IGI or GIA (they provide GIA certificates for solitaire natural diamond jewelry). However, based on my recent BeYon store visit, I understood that Titan has adopted a route of selling non-certified LGD diamond jewelry - they give customers a ‘Tata promise’ certificate which, in all due respect has no value. They have chosen to sell LGDs at significantly cheaper rate as compared to other brands in the market and in order to maintain margins they might have decided to remove the certification cost. They do not even provide exchange / buyback on LGD diamond value bought from BeYon. So, it seems to be a very remote possibility that IGI will get LGD certification business from Titan. Hope this helps
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