On Tuesday, the Directorate General of Foreign Trade (DGFT) issued a notification that moves the import of certain gold jewellery items—including finished products such as gold studded with pearls, diamonds, and precious stones, as well as parts—from the "free" category to the "restricted" category.

In response to these new restrictions, India's leading jewellery stocks showed mixed reactions in early trading on Wednesday, June 12, 2024. Titan Company's stock dipped, while Senco Gold reached a 52-week high, and Kalyan Jewellers experienced a rise. The restrictions apply to gold jewellery and parts imported from all countries except the United Arab Emirates, which is exempt due to its free-trade agreement with India.

Here's a closer look at the stock movements following the announcement:

**Titan Company Limited**
- Closed at Rs 3,408.25 in the previous session.
- Dropped by 0.77% to a low of Rs 3,382.00 on Wednesday.
- Trading at Rs 3,386.00, down 0.65% (Rs 22.25) at 10:11 AM on Wednesday.
- Morgan Stanley maintains an 'equalweight' rating with a target price of Rs 3,526.

**Senco Gold**
- Opened trading at Rs 947.10.
- Rose by 16.14% to an all-time high of Rs 1,065.65 on Wednesday.
- Trading at Rs 968.45, up 2.25% (Rs 21.35).

**Kalyan Jewellers**
- Closed at Rs 408.70 in the previous session.
- Increased by 1.09% to a high of Rs 413.15 on Wednesday.
- Trading at Rs 410.00, up 0.32% (Rs 1.30) at 10:07 AM on Wednesday.