Shares of listed jewellery makers and metal companies remained in focus for the last two trading sessions by making Directorate General of Foreign Trade (DGFT) authorisation mandatory for eligible importers.
Jewellery stocks saw mixed movement on Thursday after most of them dipped in the previous trading session. Shares of rose 2 per cent to ₹4,178 on the NSE, while gained nearly 3 per cent to ₹362.55. Thangamayil Jewellery surged to a 52-week high of ₹5,219.70, about 9 per cent higher than its previous close of ₹4,795.
The government, through a notification issued on Tuesday, said silver imports by RBI-nominated agencies, DGFT-authorised entities and qualified jewellers importing through the India International Bullion Exchange (IIBX) will now require a valid import licence from the DGFT.
The notification stated that imports of silver, including silver plated with gold or platinum, in unwrought, semi-manufactured or powder form, and containing 99.9 per cent or more silver by weight, will be permitted only against a valid import authorisation.
Market participants are tracking the impact of the tighter norms on bullion availability, import flows and procurement costs for jewellers and industrial users of silver.
Among metal stocks, Hindalco Industries shares declined 1 per cent to ₹1,124.70, while fell to ₹327.65 on the NSE. National Aluminium Company shares dropped 4.55 per cent to ₹417 from the previous close of ₹436.90. traded flat at ₹610.
Other metal and mining companies, including SAIL, Jindal Steel, JSW Steel, NMDC and Lloyds Metals, remained in focus amid expectations that stricter import controls could influence domestic precious metals trade and related industrial activity.