Sky Gold and Diamonds, Tribhovandas Bhimji Zaveri, Thangamayil Jewellery and Others Gain Over 3%: Here's Why?

Written by: Team Angel OneUpdated on: 16 Oct 2026, 4:08 pm IST

The government reduces duty drawback rates on gold jewellery by 3.1% and silver jewellery by 9%, affecting refunds for exporters.

The Indian government has announced a reduction in the duty drawback rates for the export of gold and silver jewellery, as per news reports.

This new adjustment is crucial for exporters who avail themselves of refunds on customs and excise duties for imported inputs used in manufacturing these items.

Shares of Sky Gold and Diamonds, Tribhovandas Bhimji Zaveri, Thangamayil Jewellery and Rajesh Exports gained Over 3% on October 16, 2026, as of 10 AM.

Changes in Duty Drawback Rates

According to the notification released by the Finance Ministry, the duty drawback rate for gold jewellery exports has been lowered from ₹1,851.99 to ₹1,794.11, marking a 3.1% decrease.

Similarly, the rate for silver jewellery has seen a substantial reduction of about 9%, dropping from ₹29,501.09 to ₹26,859.02. This adjustment in rates has been executed to align with fluctuating global input costs and market conditions.

Previous Adjustments in Rates

Earlier this year, in July, the duty drawback rates had nearly doubled to enhance competitive advantage for exporters in light of soaring input costs and global uncertainties. The rate for gold jewellery and parts rose sharply to ₹1,851.99 per gram from ₹773.17 per gram.

At the same time, the rate for silver jewellery and articles increased to ₹29,501.09 per kg from ₹14,990.66 per kg.

Rationale Behind the Reduction

As per news reports, industry experts point to the decrease in real-time import duties on gold and silver due to falling prices as the reason behind this rate correction. The changes reflect a move to realign duty drawbacks with current market values rather than percentage-based adjustments.

Understanding Duty Drawback

Duty drawback is a key financial mechanism allowing exporters to receive refunds for duties paid on imported materials used in the production of exported goods. By reducing these rates, the government aims at an appropriate alignment with current economic conditions.

Find below the List of Gold Stock which surged today as of 10 AM, on October 16, 2026.

Name	LTP	Change %	Market Cap (in ₹ crore)	PE Ratio
Sky Gold And Diamonds	1,054.00	5.25%	16,323.71	45.25
Tribhovandas Bhimji Zaveri	759.15	5.00%	5,065.86	22.62
Thangamayil Jewellery	4,995.00	4.26%	15,525.47	38.1
Rajesh Exports	60.5	3.52%	1,786.32	10.23

Conclusion

Duty drawback rates for gold jewellery have been reduced by 3.1%, while silver jewellery rates have been decreased by 9% as per the government notification. This update comes after previously doubling these rates to boost competitiveness among Indian exporters amidst variable global market conditions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks. Read all related documents carefully before investing.

Published on: Oct 16, 2026, 10:38 AM IST

Team Angel One

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