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Though the shares of jewellery companies were mostly higher after the Government hiked the import duty on gold from 6 per cent to 8 per cent, shares of Tara Jewels, Goenka Diamonds and Tribhovandas Bhimji Zaveri slipped in morning trade.
Shares of Titan Industries were down 1.29 per cent followed by PC Jeweller 0.91 per cent and Rajesh Exports at 0.6 per cent. Tribhovandas Bhimji Zaveri was trading 0.43 per cent lower at 2 p.m. on Thursday.
Tara Jewels was the top loser in this space, down 6 per cent, though companies have argued that the Government's recent move would not affect their revenues.
This is the second time the import duty has been hiked on gold. In January, the Government had raised the duty to 6 per cent from 4 per cent.
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