Titan Ind shines on govt nod to import gold directly

Titan Industries has rallied 8% to Rs 247 on reports that the government allowed the company to import gold directly. The move would help the Tata Group firm in saving 1% of its operating cost and also it would get good quality gold.

“The company had approached Directorate General of Foreign Trade (DGFT), under the Commerce Ministry, seeking license for direct gold import. The company would use gold for its watches and jewellery,"  reports suggest.

A combined 869,961 shares have changed hands on the counter in opening deals on both the exchanges.