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Shares jewellery maker such as Gitanjali Gems, Tribhovandas Bhimji Zaveri (TBZ), PC Jeweller, Rajesh Exports and Titan Company are trading higher by up to 7% in otherwise subdued market on reports that the government may change gold-import rules for trading houses.
“India will announce changes as early as this week to a rule mandating so-called star trading houses export 100% of their gold imports,” the Reuters report suggests.
India could also announce changes to rules last year mandating that all imports be paid fully with cash margins, added report.
Among the individual stocks, Gitanjali Gems has rallied 7% to Rs 57 on BSE. TBZ up 4% to Rs 165, followed by PC Jeweller (3% at Rs 234), Rajesh Exports (2.5% at Rs 167) and Titan Company (0.5% at Rs 373). The benchmark S&P BSE Sensex was down 0.13% at 27,760 at 1014 hours.
“India will announce changes as early as this week to a rule mandating so-called star trading houses export 100% of their gold imports,” the Reuters report suggests.
India could also announce changes to rules last year mandating that all imports be paid fully with cash margins, added report.
Among the individual stocks, Gitanjali Gems has rallied 7% to Rs 57 on BSE. TBZ up 4% to Rs 165, followed by PC Jeweller (3% at Rs 234), Rajesh Exports (2.5% at Rs 167) and Titan Company (0.5% at Rs 373). The benchmark S&P BSE Sensex was down 0.13% at 27,760 at 1014 hours.
