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    HomeNewsBusinessStocksTitan Industries slumps after RBI tightens gold imports

    Titan Industries slumps after RBI tightens gold imports

    The RBI said importers need to retain 20 percent of the gold they import in customs-bonded warehouses, and will only be able to buy in more after exports equivalent to 75 percent of the retained amount have been shipped.

    July 23, 2013 / 10:24 IST
       
       
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      Shares in Titan Industries Ltd lost 1.4 percent in early morning trade. This comes a day after the Reserve Bank of India moved to tighten gold imports again on Monday, with an eye to reducing a record current account deficit.


      The RBI said importers need to retain 20 percent of the gold they import in customs-bonded warehouses, and will only be able to buy in more after exports equivalent to 75 percent of the retained amount have been shipped.


       

      first published: Jul 23, 2013 09:41 am

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