Titan slips, Senco Gold at all-time high, Kalyan Jewellers jumps as government bans import of gold jewellery and its parts

India's leading jewellery stocks Titan slipped in early trade on Wednesday (June 12, 2024), while Senco Gold touched a 52-week high and Kalyan Jewellers also jumped after Centre imposed restrictions on the import of gold jewellery and parts from all countries, except the United Arab Emirates. 

As per a notification released by the Directorate General of Foreign Trade (DGFT) on Tuesday, import of items such as finished products of gold jewellery — gold studded with pearls, diamonds, precious stones — and parts have been put under the “restricted” category from “free” category at present.

The United Arab Emirates has been kept out of the ban as it is India's free-trade agreement (FTA) partner 

Here's how stocks such as Titan, Senco Gold and Kalyan Jewellers are trading after the ban.

Titan Company Limited share price

After closed trading at Rs 3,408.25, Titan slipped by 0.77 per cent to Wednesday's low of Rs 3,382.00.

Titan shares was trading lower by 0.65 per cent, or Rs 22.25, at Rs 3,386.00 each at 10:11 am on Wednesday.

Morgan Stanley on Titan Co Ltd (CMP 3411)

The brokerage has maintained an 'equalweight' rating on the firm with a target price of Rs 3,526.
  

Senco Gold share price

Senco Gold touched an all-time high of Rs 1,065.65 on Wednesday. 

The stock that started trading at Rs 947.10 rose by 16.14 per cent to all-time high on Wednesday.

Senco Gold shares were trading higher by 2.25 per cent, or Rs 21.35, at Rs 968.45 each.

Kalyan Jewellers share price 

After closing at Rs 408.70 in the previous session, Kalyan Jewellers rose by 1.09 per cent to Wednesday's high of Rs 413.15.

Kalyan Jewellers shares were trading up by 0.32 per cent, or Rs 1.30, at Rs 410.00 at 10:07 am on Wednesday.