Post levying of higher taxes on gold import in budget 2012, companies which were dealing in gold import had suffered a setback. However now Titan has given a break out as government has allowed the company to import gold directly. The allowance by Govt to Titan has given a fillip to the stock as it is going to help Tata Group firm to save 1% of its operating cost and they will have access to best of the best gold at discounted rates.
It is not a favoritism case as company had approached Directorate General of Foreign Trade (DGFT), under the Commerce Ministry and had sought license for direct gold import for its watches and jewellery.
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