05 Oct 2022
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Shares of jewellery companies rise
It follows the recent RBI norms on gold imports
By: Diamond World News Service
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Jul 24 2013 7:17PM
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Reference: 8010  

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With the recent Reserve Bank of India norms on further regulating gold imports, the shares of gem and jewellery companies have taken a rise, reports say. Companies including Titan Industries, Tribhovandas Bhimji Zaveri (TBZ), Rajesh Exports, PC Jewellers are amongst those who are enjoying a rise in demand by up to 17 percent at the stock markets, following heavy volumes on the bourses, reports suggest.

RBI has stated that the banks and importing agencies will have to make sure that 20 percent of the gold imported in any form or purity, including unrefined gold is used for export purposes. Also, in the domestic market, the nominated banks and importing agencies should making gold available only to the entities engaged in jewellery business and bullion dealers supplying gold to jewellers, reports suggest.

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