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.

Tribhovandas Bhimji Zaveri, on the other hand, was quoting at Rs 98.00, up Rs 5.05, or 5.43 percent on the BSE.

The GST Council on Saturday announced that the rate on gold and gold jewellery would be at 3 percent. Having said that, the import duty of 10 percent stays, which will be over and above the 3 percent.

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