Jewellery stocks rally upto 20% as government eases curb on gold imports 

Photo: Rediff.com

[Editor: My recommended Gitanjali Gems Ltd (Rs.60.10) has hit the upper cricuits in the opening trade. The scrip was repeatedly recommended in this blog]
NEW DELHI, 1 Dec, 2014: Shares of gems and jewellery business rallied as much as 20 per cent in trade on Monday, after the government unexpectedly scrapped a rule imposed in August last year mandating that a fifth of all the precious metal imported should be re-exported.

Reacting to the news, Shree Ganesh Jewellery and Gitanjali Gems rallied as much as 20 per cent, followed by rally in Titan Company, TBZ, Tara Jewels, PC Jeweller etc.

At 09:30 a.m.; Shree Ganesh Jewellery was locked in upper circuit at Rs 27.90, up 20 per cent, followed by Gitanjali Gems which was up 19.96 per cent at Rs 60.10.

Titan Company was trading 6.1 per cent higher at Rs 392.75, TBZ was up 15.12 per cent to Rs 173.40, Tara Jewels was trading 7.3 per cent higher at Rs 96.50 and PC Jeweller was trading 10.2 per cent higher at Rs 266.15. 

Courtesy: The Economic Times