Share prices of gold loan companies and jewellers were under tremendous pressure on Monday as gold sank further to new lows.
At the end of day's trade, shares of Muthoot Finance and Manappuram Finance had slumped 13% and 10% respectively.
{{^htLoading}} {{/htLoading}}
These companies reacted on the risk of rising defaults on gold loans amidst falling prices.
Further jewellery firms such as Tribhobvandas Bhimji Zaveri, PC Jeweller, and Titan Industries saw their share prices fall 2%, 6% and 4% respectively.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Advertisement
{{/htLoading}}{{#usCountry}}