RBI easing to aid bottomline by 30-40bps: Shrenuj Co

The RBI relaxed norms governing import of rough, cut and polished diamonds by doubling the credit time period to 180 days.

The Reserve Bank of India (RBI) easing lending norms for diamond imports is a step in the right direction, says Pranav Bhargava Exec VP, Shrenuj & Co .

The RBI relaxed norms governing import of rough, cut and polished diamonds by doubling the credit time period to 180 days. Earlier, the timeframe was of 90 days. The RBI said the revised directions will come into force with immediate effect.

Bhargava says the move will have nearly 30-40 bps positive impact on the company's bottomline. He believes export revenue could rise by 10-12 percent on the back of the RBI move.

Shrenuj and Co stock price

On July 08, 2014, at 14:13 hrs Shrenuj and Company was quoting at Rs 130.10, up Rs 4.70, or 3.75 percent. The 52-week high of the share was Rs 155.00 and the 52-week low was Rs 81.10.

The company's trailing 12-month (TTM) EPS was at Rs 3.64 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 35.74. The latest book value of the company is Rs 73.05 per share. At current value, the price-to-book value of the company is 1.78.

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