Jewellery stocks shine after Govt slash custom duty on precious metals

Shares of companies engaged in gold and silver business rallied after the Union FM, Nirmala Sitharaman announced that to enhance domestic value addition, the customs duty on gold and silver will be reduced to 6%, while the duty on platinum will be lowered to 6.4%.

PC Jeweller (up 5%), Titan Company (up 3.50%), Tribhovandas Bhimji Zaveri (up 2.35%), Rajesh Exports (up 2.50%), Utique Enterprises (up 2.46%), Goldiam International (up 1.97%) advanced.

Finance Minister Nirmala Sitharaman is presenting the first Union Budget of the Modi 3.0 government and her 7th consecutive one during the Monsoon Session of Parliament.

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