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BW Businessworld

Jewellery Firms Surge After RBI Eases Gold Import Norms

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Shares in Titan Co Ltd surged on Thursday (22 May) after the Reserve Bank of India (RBI) eased gold import rules by allowing seven more private agencies to ship the precious metal. The stock was trading up 20 percent as of 10:39 a.m.

The move by the RBI, announced late on Wednesday, could augment supplies of gold, according to analysts.

Among other jewellery companies Gitanjali Gems gained 13.7 per cent, Rajesh Exports Ltd rose 12.15 per cent.

Meanwhile, Tribhovandas Bhimji Zaveri Ltd jumped 17.8 per cent and Shree Ganesh Jewellery House rose 5 per cent.

(Reuters)