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Manappuram Finance, IIFL Finance, other stocks rally up to 11% as gold prices soar after import duty hike
Shares of gold financiers Manappuram Finance, Muthoot Finance and IIFL Finance rallied sharply after the government raised import duty on gold to 15%, triggering a surge in domestic gold prices. Higher gold prices improve collateral value for gold loans, potentially boosting lending demand and benefiting companies focused on gold-backed financing businesses.
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economictimes.indiatimes.com
Manappuram Finance, IIFL Finance, other stocks rally up to 11% as gold prices soar after import duty hike
Shares of gold financiers Manappuram Finance, Muthoot Finance and IIFL Finance rallied sharply after the government raised import duty on gold to 15%, triggering a surge in…
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timesofindia.indiatimes.com
Gold custom duties hiked: Gold duty hike may raise domestic prices, divert supplies to grey markets: SBI report
Gold is expected to become costlier after the government's recent move to raise import duty to 15%. Alongside, the impact is likely to show up in domestic prices as well as trade…
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India’s gold import duty hike: A double-edged sword
India has raised gold import duty to 15% and urged citizens to buy less gold. This move targets foreign reserves and the rupee's value. However, India's strong cultural demand for…