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Titan shares soar on uniform excise proposal for jewellery
"If DGCA gives a report that safety cannot be assured certainly we will take action. We can cancel their license," he said.
20 Mar 2012, 03:05 PM IST 
Shinzo Nakanishi, Managing Director, Maruti Suzuki India
Shares of jewellery and watch maker Titan Industries traded with strong gains after the Central Board of Excise and Customs (CBEC) clarified that the distinction between excise duty rate on branded & unbranded jewellery has been done away with.
Shares of the company traded 4% higher at Rs 255.60 on the National Stock Exchange at 1450 hours. At the same time, the Nifty index was up 0.65% at 5,291.
According to the Budget proposal, there will be a uniform rate of excise duty for both branded and unbranded jewellery from this fiscal. So, the current excise duty of 1% on branded jewellery will be extended to unbranded jewellery as well.
Analysts say Titan’s competitiveness compared with other unbranded jewellery companies may improve now.
