Mumbai, April 6 -- Stocks across the space saw broad-based buying, with Senco Gold rising 12.93%, Sky Gold gaining 6.08%, Kalyan Jewellers advancing 5%, Tribhovandas Bhimji Zaveri climbing 3.43%, Titan Company adding 2.91% and PN Gadgil Jewellers up 2.50%.
The move follows a notification by the Central Board of Indirect Taxes and Customs (CBIC), which lowered the base import price of gold by about $50 to $1,518 per 10 grams, while silver prices were cut by over $800 to $2,657 per kilogram.
The base import price is used to calculate customs duty on precious metals, and a reduction effectively lowers the duty burden for importers. This is seen as a positive for jewellery companies, as it can support margins and improve affordability for con...