Reuters Market Eye - Titan Industries shares fell 3 percent on Thursday on concerns over stress on its working capital cycle and interest costs, dealers said.
Concerns over a proposal by the RBI of linking the gold leasing rate (about 3.5 percent at present, 180-day lease period) to the base rate (about 9-10 percent) can potentially reduce earnings by up to 10 percent, HSBC Securities says in a note.
Also, Titan opting for direct import of the metal (90-day lease period) can trigger additional working capital needs which could potentially lower financial year 2014 earnings by up to 4 percent, HSBC says.
(Reporting by Manoj Dharra)
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