The Indian jewellery sector stocks continue to be in the limelight after the government sharply increased the effective import duty on gold from 6% to 15%. The move, announced amid concerns around rising imports and pressure on foreign exchange reserves, has raised questions about jewellery demand, pricing and profitability across the industry. The brokerage house Nomura, in its latest report has shared its outlook on the sector and has also maintained a positive stance on Titan Company. Even after the sharp jump in import duty, Nomura has maintained a ‘Buy’ rating on Titan with a target price of Rs 4,950. This translates to an upside of 21% from the current market price.