Shares of six jewellery retailers rose 0.37% to 3.34% at 11:04 IST on BSE after the Reserve Bank of India in a notification yesterday, 18 February 2015, allowed lenders to provide gold metal loans.
Shree Ganesh Jewellery House (I) (up 3.34%), PC Jeweller (up 3.23%), Gitanjali Gems (up 2.95%), Rajesh Exports (up 0.94%), Titan Company (up 0.37%), and Tribhovandas Bhimji Zaveri (up 1.25%), edged higher.
Meanwhile, the S&P BSE Sensex was down 111.46 points or 0.38% at 29,208.80.
The Reserve Bank of India (RBI) in a notification yesterday, 18 February 2015, allowed lenders to provide gold metal loans. Nominated banks are now permitted to import gold on consignment basis. All sale of gold domestically will, however, be against upfront payments. Banks are free to grant gold metal loans, the statement from RBI said.
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