GST another growth enabler for Titan

A lower-than-expected tax rate leads to a 17% spike in the stock price

Jewellery makers like Titan Company (Titan), PC Jeweller and Tribhovandas Bhimji Zaveri (TBZ) were among the biggest gainers in trade on Monday as the 3 per cent tax rate on gold and gold jewellery under the goods and services tax (GST) was lower than expectations of 4 per cent and close to the prevailing rate of 2.5 per cent. In addition, these companies can also avail of input tax credit (not available in the pre-GST regime), which means the total savings on the rate front is a good 150 basis points for these companies. Most of these players are likely