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Jewellery stocks slump
Posted on: 16/Aug/2013 2:37:39 PM
Jewelry stocks slumped as much as 14 per cent on Friday, after the Reserve Bank prohibited inward shipment of gold coins, medallions and Dores without license and said importers will be required to make full upfront payment for the shipments.
Reacting to this, shares of Titan Industries slumped 14 per cent to Rs 235 on the BSE in morning trade.
Similarly, PC Jeweler tanked 5.83 per cent, while Tribhovandas Bhimji Zaveri tumbled 6 per cent.
Among others, Rajesh Exports were down 3.69 per cent and Thangamayil Jewellery fell 1.15 per cent.
Seeking to reduce the import of gold, the Reserve Bank had on Wednesday prohibited inward shipment of gold coins, medallions and dores without licence.
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