Jewellery stocks gain up to 9% after govt withdrawal of PMLA compliance

Titan Company, TBZ, Thangamayil Jewellery and PC Jeweller were up in the range of 3% to 9% on BSE

Shares of jewellery companies were trading higher by up to 9% on BSE in early morning trade on expectation of revival in sales after the government revoked an order that mandated PAN and Aadhaar cards for purchases above Rs 50,000.

Titan Company, Tribhovandas Bhimji Zaveri (TBZ), Thangamayil Jewellery and PC Jeweller were up in the range of 3% to 9% on BSE. On comparison, the benchmark S&P BSE Sensex was up 0.28% at 31,904 points at 09:49 AM.

PC Jeweller (up 7% to Rs 399) and Thangamayil Jewellery (up 5% at Rs 419) hit their respective record highs