Hot Pursuit
Jewellery stocks rally after base import price reduction As on : 06-Apr-26  13:01

Stocks across the space saw broad-based buying, with Senco Gold rising 12.93%, Sky Gold gaining 6.08%, Kalyan Jewellers advancing 5%, Tribhovandas Bhimji Zaveri climbing 3.43%, Titan Company adding 2.91% and PN Gadgil Jewellers up 2.50%.

The move follows a notification by the Central Board of Indirect Taxes and Customs (CBIC), which lowered the base import price of gold by about $50 to $1,518 per 10 grams, while silver prices were cut by over $800 to $2,657 per kilogram.

The base import price is used to calculate customs duty on precious metals, and a reduction effectively lowers the duty burden for importers. This is seen as a positive for jewellery companies, as it can support margins and improve affordability for consumers.

The revised prices apply to imports of gold and silver in specified forms, including bullion, bars and coins, but exclude jewellery and articles made of precious metals.

The government typically reviews base import prices every fortnight. The latest reduction comes even as global gold and silver prices remain near record highs, which could keep the overall import bill elevated.

India remains one of the largest consumers of gold and silver globally, relying heavily on imports to meet domestic demand. Lower import costs are expected to support demand, particularly during the ongoing wedding and festive season, while also providing near-term relief to the jewellery sector.