Shares of Kalyan Jewellers, Titan Company, Thangamayil Jewellery and other stocks tumbled up to 6% on Wednesday after the central government hiked customs duty on imports of gold, silver and other precious metals, with the revised rates taking effect from midnight.
Kalyan Jewellers was the worst hit, tanking 6% to their day's low of Rs 340 on the NSE. Titan was relatively resilient, down 1%, while Thangamayil Jewellery was down over 3% in early trade. Senco Gold pared losses to trade marginally higher.
