Jewellery Gold

In an exclusive interview, Ashok Sonthalia, chief financial officer of Titan Company, discusses the company's expansion plans

For the majority of Hindu families, engaging in any positive work on Akshaya Tritiya, such as starting a business or purchasing property, jewels or vehicles brings prosperity

The domestic jewellery retail industry, in value terms, is expected to grow at 10-12 per cent during the current financial year on the back of elevated gold prices, credit rating firm ICRA said in a report. In the last financial year, the industry had grown by more than 15 per cent. ICRA said that demand volumes remained stable in the current festive season despite higher prices. The research firm said organised jewellery retailers are expected to outperform the industry over the medium term, driven by planned retail expansion and tailwinds from the accelerated formalisation of the trade. After remaining volatile between December 2022 to April 2023, gold prices were relatively stable in the range of Rs 5,600 to Rs 5,700 per gram in the first half of the current fiscal. This was almost 14 per cent higher as compared to the price levels in the preceding first half. The rating firm said the elevated price levels supported the revenue expansion of most jewellery retailers in the face

Customers are not buying gold though prices are now falling

It will help networking of jewellers with each other and also reduce the marketing cost of jewellery which otherwise is done through costly exhibitions

While in the near term, gold can remain range-bound as there are various conflicting forces at play, there are triggers that can propel prices higher in the long run

Those who own only a small amount may go for a home content cover

Many are offering personalised ornaments with 3D printed images and engraved names to lure customers in a scenario of high gold prices

Titan Company, TBZ, Thangamayil Jewellery and PC Jeweller were up in the range of 3% to 9% on BSE