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Jewellery stocks are in limelight today and trading higher in the range of 4% - 12% on the bourses on back of heavy volumes.
Rajesh Exports surged 6% to Rs 218 after the company said it has bagged an export order worth of Rs 1,265 crore of designer range of gold and diamond studded jewellery and medallions from M/s AI Sultan Jewellery, UAE.
Rajesh Exports said, the execution of this order will significantly add to the bottom line of the company.
The stock opened at Rs 209 and touched a record high of Rs 222 on the BSE. A combined 1.1 million shares changed hands on the BSE and NSE so far.
PC Jeweller has soared 12% to Rs 360 on the BSE on back of an over two-fold jump in trading volumes. A combined 1.26 million shares changed hands till 1103 hours as against an average sub 500,000 shares that were traded daily in past two weeks on the BSE and NSE.
Among the other individual stocks, C Mahendra Exports rallied 14% to Rs 12.70, followed by Tribhovandas Bhimji Zaveri (6% to Rs 165), Thangamayil Jewellery (5% at Rs 212), Gitanjali Gems (4% at Rs 48.35) and Titan Company (3% at Rs 412).
Meanwhile, talking about the issue of gold import and the current account deficit (CAD), Manish Jain, Chairman-elect, the All India Gems and Jewellery Trade Federation (GJF), said, "We hope that Union Finance Minister addresses the important issue of reduction of import duty on gold which has given rise to creation of parallel economy through smuggling of gold. The FY 2015 CAD / GDP ratio is presently around 0.9% and is estimated to reduce to 0.3% in the next year. We expect import duty reductions on gold soon.” CLICK HERE TO READ FULL REPORT.
Rajesh Exports surged 6% to Rs 218 after the company said it has bagged an export order worth of Rs 1,265 crore of designer range of gold and diamond studded jewellery and medallions from M/s AI Sultan Jewellery, UAE.
Rajesh Exports said, the execution of this order will significantly add to the bottom line of the company.
The stock opened at Rs 209 and touched a record high of Rs 222 on the BSE. A combined 1.1 million shares changed hands on the BSE and NSE so far.
PC Jeweller has soared 12% to Rs 360 on the BSE on back of an over two-fold jump in trading volumes. A combined 1.26 million shares changed hands till 1103 hours as against an average sub 500,000 shares that were traded daily in past two weeks on the BSE and NSE.
Among the other individual stocks, C Mahendra Exports rallied 14% to Rs 12.70, followed by Tribhovandas Bhimji Zaveri (6% to Rs 165), Thangamayil Jewellery (5% at Rs 212), Gitanjali Gems (4% at Rs 48.35) and Titan Company (3% at Rs 412).
Meanwhile, talking about the issue of gold import and the current account deficit (CAD), Manish Jain, Chairman-elect, the All India Gems and Jewellery Trade Federation (GJF), said, "We hope that Union Finance Minister addresses the important issue of reduction of import duty on gold which has given rise to creation of parallel economy through smuggling of gold. The FY 2015 CAD / GDP ratio is presently around 0.9% and is estimated to reduce to 0.3% in the next year. We expect import duty reductions on gold soon.” CLICK HERE TO READ FULL REPORT.
