Kalyan Jewellers, Titan Shares Fall As Gold, Silver Imports Halted

Shares of Kalyan Jewellers India fell nearly 6% and Titan Company declined over 1% on April 17 after a Reuters report said Indian banks have paused fresh imports of gold and silver due to delays in government approval.

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Kalyan Jewellers stock was trading at ₹416.20, down ₹24.10 or 5.47%, while Titan Company shares were at ₹4,415.90, down ₹45.50 or 1.02% during the session.

Imports Halted Amid Regulatory Delay

According to Reuters, banks have stopped placing new import orders as large quantities of gold and silver shipments remain stuck at customs. The delay is due to the absence of a fresh directive from the Directorate General of Foreign Trade (DGFT), which authorises banks to import bullion.

The previous DGFT order, issued in April 2025, remained valid until March 31, 2026. Banks are now awaiting a new notification to resume imports.

Reuters reported that more than 5 tons of gold and around 8 tons of silver are currently held up at customs without clearance.

Supply Concerns In Domestic Market

India relies heavily on imports to meet domestic demand for gold and silver. With fresh imports halted, existing inventories are being drawn down, according to Reuters.

The report noted that the market is currently depending on earlier stock and exchange-traded fund flows to meet demand.

According to the India Bullion and Jewellers Association, clarification on import regulations was needed to maintain uninterrupted supplies.

Impact On Jewelry Stocks

A ban on the import of gold and silver bullion adversely affected jewelry stocks, causing their prices to fall.

Titan Company, which operates the Tanishq jewellery brand, also traded lower during the session alongside Kalyan Jewellers.

Trade And Currency Context

Reuters reported that reduced imports of gold and silver could narrow India’s trade deficit and support the rupee. The Indian currency has declined by over 3% in 2026 so far, making it one of the weaker performers among Asian currencies.

Authorities have taken steps in recent weeks to manage currency pressure, including measures related to foreign exchange flows.

Awaiting Government Notification

The DGFT has not issued any official statement regarding the delay in the new import authorisation order, Reuters reported.

Market participants are awaiting clarity on the timeline for the next directive, which will determine when bullion imports can resume and supply conditions normalise in the domestic market