IGI gets ‘Buy’ rating by Investec as it initiates coverage

International Gemmological Institute (IGI) ranks among the top two diamond certification firms globally and is a leader in lab-grown diamond certification. Investec has initiated coverage on International Gemmological Institute (India) Ltd., assigning a ‘buy’ rating and setting a target price of Rs 489 per share. This decision comes as IGI continues to demonstrate strong growth and resilience in the diamond certification industry. “IGI ranks among the top two diamond certification firms globally and is a leader in lab-grown diamond certification.

The firm is expected to benefit significantly from the rising adoption of lab-grown diamonds worldwide and the fast-growing Indian natural diamond market, according to the brokerage. The global market for lab-grown diamond volumes is projected to grow at a 15% compound annual growth rate from 2023 to 2028, according to Redseer. IGI is well-positioned to achieve a 14.3% revenue CAGR till 2027, it