Shares of jewellery makers surged as much as 9 per cent today amid reports that the government may announce changes to gold-import rules for certain category of trading houses.
Gitanjali Gems's stock surged 8.83 per cent, while Shree Ganesh Jewellery House soared 8.21 per cent on the BSE.
Among others, shares of Tribhovandas Bhimji Zaveri rose by 4.17 per cent, while Titan Company climbed 3.99 per cent, PC Jeweller was up 2.76 per cent and Tara Jewels went up by 1.06 per cent.
As per media reports, the government might announce changes to a rule mandating Star Trading Houses to export 100 per cent of their gold imports.
Easing restrictions on gold imports, the Reserve Bank had last month scrapped the 80:20 scheme for traders, a move which the industry believes will bring down prices of the precious metal.
