Jewellery Shares

BlueStone Jewellery shares remain 47 per cent higher on a year-to-date (YTD) basis and 27 per cent higher in six months. However, they are flat over the last year, having lost nearly 2 per cent.

In Q2FY27, demand remained healthy despite the elevated gold price (up 28% YoY) supported by festive demand, premiumisation and continued market share gains by organised players, analysts said.

Barring P N Gadgil Jewellers, all the jewellery stocks in the comparison have gained year-to-date (YTD), with Tribhovandas Bhimji Zaveri (TBZ) emerging as the top performer

Kalyan posted a consolidated revenue growth of over 26 per cent year-on-year (YoY), led by robust operating momentum on the ground with healthy same-store-sales growth.

Analysts attribute the decline in most jewellery stocks to profit booking by investors and an appeal by PM Modi to avoid buying gold if not needed.

India has a strong opportunity to emerge as a global hub for design-led jewellery manufacturing, supported by its manufacturing capabilities, craftsmanship and more FTAs, says Senco Gold.

The company said that despite benign gold prices in the June quarter, volume in gold segments of business was relatively lower, hit by a steep increase in import duty.

Kalyan Jewellers share price hit a 52-week high of ₹634.20 after a gap of over 11 months, surpassing its previous record of ₹615.65 touched on August 8, 2025.

The average trading volume at the BlueStone counter jumped 18-fold, with a combined 24.9 million equity shares representing 16.3 per cent of total equity changing hands on the NSE and BSE.

BlueStone Jewellery share price climbed over 11 per cent after the company posted a consolidated net profit of Rs 5.96 crore compared with a loss of Rs 34.7 crore in Q1FY26.

In the past 10 trading days, Thangamayil Jewellery and Sky Gold and Diamonds soared 29 per cent and 28 per cent, respectively.

Govt hikes gold import duty: The move triggered selling in jewellery stocks, including Kalyan, Senco Gold, Titan. On the contrary, shares of Manappuram Fin, Muthoot Fin, and IIFL Finance rose up to 7%

Titan's consolidated total income grew 46 per cent year-on-year to ₹20,300 crore as compared to ₹13,891 crore in the year-ago period

Titan's domestic jewellery business delivered strong revenue growth in Q4 owing to the upcoming wedding season, festivals such as Gudi Padwa and Eid during the quarter, said ICICI Securities.

In the past four trading days, the stock price Titan Company engaged in gems, jewellery and watches business has rallied 7 per cent.

Analysts believe that the gems and jewellery related sector is likely to benefit from the India-US trade deal.

Senco Gold reported that its standalone revenue rose 51 per cent Y-o-Y in the December quarter (Q3FY26), compared to 6.5 per cent Y-o-Y revenue growth rate recorded in the previous quarter.

With the festive season driving positive consumer sentiment, the management said the company remains focused on strengthening brand salience and accelerating growth across all its businesses

Titan delivered a strong quarter with its core jewellery business growing 18.8 per cent year-on-year (Y-o-Y), backed by 14 per cent like-to-like (LTL) growth.

Shares of gold-loan providers Muthoot Finance and Manappuram Finance trade at key supports on the charts; face over 11% downside risk. Also check outlook on Titan and other jewellery-related stocks.