Union Budget 2015-16: Jewellery stocks gain on gold import duty cut hope

Gitanjali Gems rose 5 per cent, Titan Company was up 0.9 per cent. Traders hope import duty on gold would be cut by 2 per cent in 2015/16.

twitter-logo Reuters        Last Updated: March 1, 2015  | 00:21 IST
Jewellers stocks gain on hope Budget will cut gold import duties
The commerce ministry has pitched for a reduction in the import duty on gold in its budget recommendations to the ministry of finance to encourage gems and jewellery exports and manufacturing.

Jewellery sector stocks rose on Saturday on hope Budget will cut gold import duties. 

Gitanjali Gems rose 5 per cent, Titan Company was up 0.9 per cent. Traders hope import duty on gold would be cut by 2 per cent in 2015/16.

UNION BUDGET 2015-16:Live Blog | Full Coverage

The commerce ministry has pitched for a reduction in the import duty on gold in its budget recommendations to the ministry of finance to encourage gems and jewellery exports and manufacturing.

"We have been asking for a cut in gold import duty," commerce secretary Rajeev Kher said on the sidelines of a Confederation of Indian Industry (CII) event.

With agency inputs

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