 "PC Jeweller rallies as company allows to directly import precious metals")
PC Jeweller rallied 6% to Rs 236 on BSE after the company said the government has designated the company as nominated agency for direct import of precious metals to be used for domestic business.
“The company has been designated as nominated agency under Paragraph 4A.4 of Foreign Trade Policy 2009-14 (RE-2012), by the Additional Director General of Foreign Trade (CLA), Ministry of Commerce & Industry, Department of Commerce, New Delhi, vide Certificate dated January 07, 2015,” PC Jeweller said in a statement.
This permission makes the company eligible for direct import of precious metals (gold/silver/platinum) for domestic business, it added.
According to PTI reports, the move would help the company to reduce its cost to buy precious metals, P C Jeweller Managing Director Balram Garg said.
The stock opened at Rs 237 and hit a high of Rs 246 on BSE. The trading volumes on the counter more than doubled with a combined 384,912 shares changed hands till 1000 hours on BSE and NSE.
“The company has been designated as nominated agency under Paragraph 4A.4 of Foreign Trade Policy 2009-14 (RE-2012), by the Additional Director General of Foreign Trade (CLA), Ministry of Commerce & Industry, Department of Commerce, New Delhi, vide Certificate dated January 07, 2015,” PC Jeweller said in a statement.
This permission makes the company eligible for direct import of precious metals (gold/silver/platinum) for domestic business, it added.
According to PTI reports, the move would help the company to reduce its cost to buy precious metals, P C Jeweller Managing Director Balram Garg said.
The stock opened at Rs 237 and hit a high of Rs 246 on BSE. The trading volumes on the counter more than doubled with a combined 384,912 shares changed hands till 1000 hours on BSE and NSE.