Stocks of jewellery companies rise as RBI eases norms

With the Reserve Bank of India (RBI) having modified the import norms for gold, the jewellery industry seemed to celebrate. Stocks of the jewellery companies surged high, reports say. Companies like PC Jeweller, TBZ, Titan, Thangamayil Jewellery, Tara Jewels noted a significant 10-20 percent increase in their stocks, reports suggest.

With RBI permitting nominated banks, to give Gold Metal Loans (GML) to domestic jewellery manufacturers, the industry is hopeful of a reducing finance cost and increasing profits. Also, with RBI expanding the number of private agencies that can import the precious metal, the supplies would be eased.