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Mandatory Hallmarking of Gold Jewellery Will Benefit Branded Players Hugely, Says Titan CFO

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Titan traded near its record high on February 25 on the back of the government’s decision to call for a meeting later this month to discuss the mandatory hallmarking of gold jewellery.

Compulsory hallmarking will benefit branded players like Titan, the company’s CFO S Subramaniam told CNBC-TV18 while sharing his outlook for the future.

Subramaniam said this will help the organised players although it may be tough to implement. “The prices are extremely high at this point in time, and we can see that coming from the entire industry as sales have been muted. Also, it will be difficult to implement hallmarking as a mandatory process because of all the infrastructural changes that will take place.”
He said, “We have been doing decently. March is where we hope to do better than what we have done. In fact, we are planning to come with demand generating activities in March.”

Subramaniam expects the jewellery business to grow 21-22 percent in FY19.

Courtesy: Moneycontrol.com

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