India's International Gemmological Institute falls, Kotak initiates with 'reduce'

International Gemological Institute

18/06/2025 10:34

** Diamond certification company International Gemmological Institute (India) ITEN.NS falls ~3% to 358 rupees

** Kotak Institutional Equities initiates coverage with 'reduce' and a fair value of 375 rupees

** Says concerns around the sustainability of pricing and profitability in the fast-growing lab diamonds segment warrant a cautious valuation approach

** Adds, the relevance of third party certification for lab grown diamonds could diminish in the long term if the industry shifts towards self certification, tech advancements reduce the need for external validation

** Stock extends a five-session losing streak

** ITEN down ~35% YTD

 (Reporting by Ananta Agarwal in Bengaluru)

 ((Ananta.Agarwal@thomsonreuters.com))