Mixed reaction to futures

Investing Insight

 The Classic Diamond stock went marginally up to Rs 43.65 yesterday from Rs 41.55 in early-July. The Vaibhav Gems stock improved from Rs 23.75 to Rs 23.90 over the same period.

 A handful of gems and jewellery companies, on the other hand, witnessed drop in share prices. The Goldiam International stock declined from Rs 28.40 to Rs 27.35, Rajesh Exports reduced from Rs 80 to Rs 86.50, SB & T International fell from Rs 34.90 to Rs 31.70 and Shrenuj & Co. went down from Rs 37.25 to Rs 33.

 The diamond counters experienced reduction in prices. They are Flawless Diamonds (went down from Rs 2.30 to Rs 2.01) Golkunda Diamond (from Rs 2.40 to Rs 1.92), Parekh Platinum (from Rs 10.29 to Rs 7.62) Silver Smith (from Rs 10.90 to 9.97), Suashish Diamond ( from Rs 21 to Rs 20.65) and Su-Raj Diamond (from Rs 16 to Rs 14.78).

 Analysts said the biggest beneficiaries from the introduction of the futures trading would provide hedging mechanism to traders so that they would reduce risk involved in international price fluctuations.