Indsamachar bureau : Shares of Titan Company rose nearly 3 percent in the early trade on Thursday as government has not hiked the import duty on gold.
The government has hiked import duty on high-end consumer items including washing machines, air conditioner, footwear, diamonds, jet fuel, car tyres, kitchen and tableware, some plastic goods, as well as suitcases as a part of its plan to get foreign funds flowing back to India and to reduce current account deficit (CAD) as it seeks to stabilise the domestic currency.
Meanwhile, the government has kept rate unchanged on import of gold.
According to Morgan Stanley, increased in basic customs duty on manufactured jewellery pieces is positive for company.
At 09:49 hrs Titan Company was quoting at Rs 837.65, up Rs 25.45, or 3.13 percent on the BSE
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