Stocks

Jewellery stocks shine as 19-day strike ends

Reuters | Updated on January 20, 2018 Published on March 21, 2016

jewellery

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.

Published on March 21, 2016
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