There is enthusiasm in the Indian gems and jewellery sector after the signing of the India-UAE trade agreement on Friday. After the free trade agreement between India-UAE, now the business of gems and jewelry will increase, lakhs of new jobs will be created. At the same time, according to market experts, the stock of the company can also see a rise in the coming days. The UAE has reduced its import duty on Indian exports of gems and jewellery, from 5 percent to zero. This means that the domestic jewellery sector will get duty-free access to the UAE market, giving a huge boost to exports.
Share may reach ₹3,000
According to stock market experts, after this deal, the export business of organized gems and jewellery companies including Titan Company of Tata Group will get a boost. According to experts, Titan's exports are limited but volumes will benefit the company.
Investors can buy in this stock of Tata Group in the range of ₹ 2300 to ₹ 2450. This stock can reach ₹3,000 in a year. Today the shares of the company are trading at Rs 2,415.30 on NSE. Let us tell you that Titan is the favorite stock of Big Bull Rakesh Jhunjhunwala of the stock market and is also included in Jhunjhunwala's portfolio.
What do stock market experts say?
Ravi Singhal, Vice Chairman, GCL Securities said, “This TRQ agreement between India and UAE will help in the growth of Indian gems and jewelery exports and will benefit organized companies. Titan Company, Rajesh Exports, and Vaibhav Global are some of the listed companies. It will also benefit from this agreement. The india-UAE agreement may increase the share price of Titan."
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