"It has been decided by the Government of India to withdraw the 20:80 scheme and restrictions placed on import of gold. Accordingly, all instructions issued about the scheme from time to time...stand withdrawn with immediate effect," the RBI said in a notification.
With the RBI on Friday easing restrictions on gold imports by scrapping the controversial 80:20 scheme, R S Subramaniam, CFO, Titan expects the arbitrage opportunity and cost of funding to reduce going forward.
According to him the consumer will now require paying less in terms of premium and so may look at purchasing nore gold jewellery, which in turn would benefit both.
He also expects the return on capital employed (RoCE) in jewellery business to go back to 60-70- percent.
He sees an improvement in the balance sheet and debt levels for the company but says there won't be a significant different in margins per se.
"It has been decided by the Government of India to withdraw the 20:80 scheme and restrictions placed on import of gold. Accordingly, all instructions issued about the scheme from time to time...stand withdrawn with immediate effect," the RBI said in a notification.
More to come
Titan Company stock price
On December 01, 2014, at 09:24 hrs Titan Company was quoting at Rs 391.35, up Rs 21.30, or 5.76 percent. The 52-week high of the share was Rs 424.25 and the 52-week low was Rs 203.00.
The company's trailing 12-month (TTM) EPS was at Rs 8.89 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 44.02. The latest book value of the company is Rs 28.43 per share. At current value, the price-to-book value of the company is 13.77.
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