Jewellery retailers climb on GST boost

Shares of jewellery retailers climbed on GST boost.

Shares of PC Jeweller Ltd, Gitanjali Gems Ltd and Titan Company Ltd rose between 8.5-15 per cent.

India will tax gold and gold jewellery, silver and processed diamonds at 3 per cent under Goods and Services Tax, the government had said on Saturday.

The tax rate is only slightly higher than the current 2-2.5 pct, according to the gems and jewellery industry in the world's second-biggest gold consumer.

Shares of Gitanjali Gems rise to highest in nearly six weeks.

Titan shares hit a record high; about 9.1 million shares changed hands, 6.7 times the 30-day average of 1.4 million.