Indian jewellers lose glitter after govt raises duty on gold

Tribhovandas Bhimji Zaveri

05/07/2019 09:18

** Shares of Indian jewellery makers PC Jeweller Ltd
 PCJE.NS , Tribhovandas Bhimji Zaveri Ltd  TBZL.NS , Titan Co
Ltd  TITN.NS  slump between 3.1% and 6.4%
    ** Customs duty on gold and precious metals to increase to
12.5% from 10%, India govt announced at the first budget of
Prime Minister Narendra Modi's second term  urn:newsml:reuters.com:*:nD8N1SS01W
    ** PC Jeweller stock last hit such levels in February 2014
    ** Titan and TBZ fall to their lowest in over a fortnight 
    ** As of Thursday's close, PC Jeweller and TBZ shed 50.8%
and 33%, respectively, this year, while Titan climbed 38.6%
higher during the same period

 (Reporting By Arnab Paul in Bengaluru)
 ((arnab.paul@thomsonreuters.com; +91 8067493881; Reuters
Messaging: arnab.paul.thomsonreuters.com@reuters.net))