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Monday, 5 June 2017

GST Impact: Jewellery stocks surge 6-10% as govt sets 3% rate on gold

Jewellery stocks witnessed a surge on Monday following the government's announcements of GST rates on gold. At 9:17 am, Titan Company was quoting at Rs 514.15, up Rs 41.90, or 8.87 percent on the BSE. It touched a 52-week high of Rs 524.00. Meanwhile, PC Jeweller was quoting at Rs 535.00, up Rs 31.95, or 6.35 percent on the BSE."The government's decision to apply 3 percent GST on gold is an encouraging step in the current context to stabilise the industry and address the concerns of the millions employed in the industry,"

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Riyanshi

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