Jewellery stocks fall after import tax raise on gold

Mumbai: Shares of jewelers tumbled after finance minister Nirmala Sitharaman in the Union Budget announced its proposal to raise import tax on gold to 12.5% from 10%. Titan slid 3%, Tribhovandas Bhimji Zaveri 5%, PC Jeweller 4%, Thangamayil Jewellery Ltd fell 3%. “Today’s announced import duty hike on gold from 10% to 12.5% will negatively impact … Read more Jewellery stocks fall after import tax raise on gold