Jewellery stocks recover as gold prices gain

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Shares in Jewellery and gold finance companies rallied in trade today after gold prices regained some lost ground.

Shares of gold and jewellery retailers TBZ, Tara Jewels, PC Jewellers and Thangamayil Jewellery
recovered as analysts believe the fall in gold prices would push demand for jewellery higher. There were also reports that making charges have been increased to partially offset the sharp drop in gold prices.

Gold Finance companies also saw an increase in their share prices with Mannapuram hitting the upper end of the circuit filter for a second day in a row. Shares in Muthoot Finance also gained today.

Meanwhile, gold futures on the MCX gained marginally in trade in line with international prices.

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