Shares of Indian jewellery firms rose after jewellers call off a 19-day strike late on Saturday.
The strike was called off following government assurance that they will not be “harassed” by the excise department in collecting a new tax.
Jewellers went on strike from the start of March after the government announced an excise duty in the 2016-17 budget.
Titan Company gained 1.5 per cent, Tribhovandas Bhimji Zaveri rose 2.2 per cent, PC Jeweller surged 3.2 per cent and Gitanjali Gems climbed 4.5 per cent.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.