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Battered gold finance, jewellery stocks up; sanity returns
Gold Finance and jewellery stocks were back in demand as investors hoped that lower gold prices would boost sales. The stocks of these companies were badly battered after gold fell to a 19 month low earlier this week.
Gold and jewellery retailer Tara Jewels was up 2.27 per cent, PC Jeweller was up 1.50 per cent and Tribhovandas Bhimji Zaveri Limited was up 0.50 per cent, while Thangamayil Jewellery was trading flat.
Gold finance companies has a smart rally with Manappuram gaining 5 per cent and trading at the upper ends of the circuit filter. Muthoot Finance on the other hand jumped 0.50 per cent.
Gold meanwhile slid marginally by 2 per cent in international trade. India gold prices are linked to international prices. International prices were last trading at $1350 an ounce.
GoodReturns.in
Story first published: Thursday, April 18, 2013, 9:55 [IST]
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