Jewellery stocks up on revival in consumer interest post PMLA exemption

Tribhovandas Bhimji Zaveri closes 5.27% up, Gitanjali Gems, Titan Company rise by 3.58% and 3.48%

Jewellery stocks moved up by upto 5.38 per cent on Monday due to a sharp improvement in consumer sentiment towards this sector following the government's decision to exempt jewellery sector from the ambit of the Prevention of Money Laundering Act (PMLA).

While the share price of Tribhovandas Bhimji Zaveri jumped by 5.27 per cent to close on Monday at Rs 127.75 apiece, that of Gitanjali Gems and Titan Company shot up by 3.58 per cent and 3.48 per cent to close at Rs 72.40 and Rs 617.75 respectively.

Consumers' mood suddenly turned upbeat since Friday, after the GST (goods and services tax)