For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Gitanjali Gems at lower circuit for 12th straight day

|
Gitanjali Gems at lower circuit for 12th straight day
Gitanjali Gems: Quotes, News
BSE 1.06BSE Quote0 (0.00%)
NSE 1.05NSE Quote0 (0.00%)
Shares in Gitanjali Gems were trading at the lower end of the circuit filter for the 12th straight day, hitting a fresh 52-week low of Rs 163.
 

The shares of the company have now fallen from a high of Rs 643 to the current levels, with no takers despite the huge fall.

One of the triggers for the sharp drop in the share price has been the decision by the RBI to restrict the import of gold on consignment basis by banks, nominated agencies/premier/star trading houses who have been permitted by Government of India, to import gold only to meet the genuine needs of the exporters of gold jewellery.

"It was advised that all Letters of Credit (LC) to be opened by Nominated Banks / Agencies for import of gold under all categories will be only on 100 per cent cash margin basis and imports of gold will necessarily have to be on Documents against Payment (DP) basis. Accordingly, gold imports on Documents against Acceptance (DA) basis will not be permitted," the RBI had said earlier in June.

GoodReturns.in

Read more about: gitanjali gems
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more