6-Jun-2013
NEW DELHI: Shares in jewellery companies such as Tara Jewels, Goenka Diamonds, TBZ slipped 1-5 per cent in morning trade after the government increased import duty on gold by a third to 8 percent to control current account deficit.
The rise in import duty is likely to weigh on earnings outlook of these companies as well as margins, according to analysts. India is the world's biggest buyer of bullion and the government is seeking to halt a surge in demand.
Source:-articles.economictimes.indiatimes.com
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