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Jewellery stocks take Rs 60,000 crore hit in 3 days on govt's double-blow. Is the worst behind?
Jewellery stocks have plunged up to 20% in three sessions, erasing nearly Rs 60,000 crore in investor wealth after PM Narendra Modi urged households to defer gold purchases and the government hiked import duties. The double blow has rattled sentiment, though analysts see no structural threat to Indias long-term gold demand.
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theprint.in
Centre more than doubles tariffs on gold, silver to defend rupee
The hikes, aiming to dampen demand in the world’s second-largest bullion market, follow a rare weekend appeal from PM Modi. Gold is the country’s largest import item after crude…
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cnbc.com
India hikes bullion import duties as the world's second-largest gold market faces a declining rupee
The government has imposed a 10% basic customs duty and a 5% tax on gold and silver imports, as per notifications issued on Wednesday.
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economictimes.indiatimes.com
Rising duties may cut India’s gold imports sharply: Mohammed Imran
India's bullion market faces a significant reset as the government hikes import duties on gold and jewellery. Analysts predict this will cool demand, reduce imports, and push…
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The 2013 ghost returns: Will higher gold duties actually restrict imports or just fuel the grey market?
Indias shock hike in gold and silver import duty to 15% has revived memories of the 2013 crisis. While the move aims to curb dollar outflows and stabilise the rupee, experts warn…
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Gold import duty hike triggers buying rush and volume concerns, says Senco Gold MD
India's gold jewellery market is adjusting to a new reality. An import duty hike is causing consumers to rush purchases. Industry experts predict a drop in sales volumes.…
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Jewellery stocks take Rs 60,000 crore hit in 3 days on govt's double-blow. Is the worst behind?
Jewellery stocks have plunged up to 20% in three sessions, erasing nearly Rs 60,000 crore in investor wealth after PM Narendra Modi urged households to defer gold purchases and…
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Gold duty hike may hit volumes, spike recycling: jewellers
Kolkata, May 13 (PTI) Jewellers and industry leaders on Wednesday said the hike in import duty on gold and silver could impact jewellery volumes in the short term, though demand…
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asia.nikkei.com
Indian jewelers brace for 10% sales dip as gold tariffs nearly triple
Tax bump follows Modi's urging to avoid gold, cut fuel use, promote EVs and work from home
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Duty hike may bring out more old gold into market
Industry executives said promoting sales of lower carat jewellery like 14K and 9K can reduce imports by 20-30%, and discouraging investments in gold bars and coins can reduce…
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Kalyan Jewellers shares crash over 40% from peak, erode Rs 27,000 crore investor wealth. Buy, sell or hold?
Kalyan Jewellers shares have plummeted over 40 percent from their peak, wiping out significant investor wealth. This sharp decline follows a call from Prime Minister Narendra Modi…
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Titan Company, Kalyan Jewellers, Senco Gold, other stocks fall up to 2% as Centre tightens duty-free gold imports
New regulations on duty-free gold imports for jewellery exporters have caused shares of Senco Gold, Thangamayil, and Kalyan Jewellers to dip. The Directorate General of Foreign…
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Should Titan shareholders worry about recent gold import duty hike? Let 2013 customs move explain
Titan Company shareholders are concerned about the recent import duty hike on gold and silver. This move has caused panic in jewellery stocks. However, historical data from 2013…
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thehindubusinessline.com
Thangamayil Jewellery Q4 profit at ₹142 crore, flags gold demand risk on PM call
Thangamayil Jewellery reports ₹142 crore Q4 profit, driven by strong sales, but warns of potential demand decline due to policy changes.
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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…