Thangamayil Jewellery

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.

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.

Thus far in the calendar year 2026, the stock price of Thangamayil Jewellery zoomed 110 per cent, as against 7.4 per cent decline in the Nifty 50.

In the past month, Titan (up 14 per cent), Thangamayil Jewellery (28 per cent) and Sky Gold (21 per cent) logged strong gains as against a 4 per cent rise in the BSE Sensex.

Thangamayil Jewellery share price hit a new high of ₹6,393.55 in intra-day deals on Tuesday, and has appreciated 105% from its March low of ₹3,119.35.

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

Gold-related stocks are likely to remain in focus post 15% import duty hike. In the last two days, these shares tumbled up to 15% after PM Modi appealed to Indians to abjure buying gold for a year.

Titan, Kalyan Jewellers, Sky Gold and Thangamayil Jewellery can potentially rally up to 15 per cent from here, believes Om Mehra, technical research analyst at SAMCO Securities.

Precious prices jumped after investors sought shelter in safe havens after the US and Israel attacked Iran over the weekend, adding to worries for equity investors

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

Technical charts suggest that shares of gold loan firms, which have surged over 50% so far in 2025, could rally another 17% from here; while a likely mixed outlook for jewellery makers and sellers.

Thangamayil Jewellery share price: The company's Chnnai store did a business worth Rs 16.12 crore of Gold, Silver, Diamond and other articles with a footfall around 7,250 due on the opening day

The uptick in share price came after the company announced that its board will meet on September 26 to consider the proposal for raising of funds.

Stocks like PC Jeweller, TBZ, Kalyan Jewellers and Senco Gold can potentially rally up to 27% from current levels, suggest technical charts.

Gold jewellery retailers: Kalyan Jewellers, Titan, PC Jewellers, Thangamayil Jewellery, and Tribhovandas Bhimji Zaveri have rallied 21-72% so far since April as compared to a 13% gain in the Sensex

So far this month, PC Jeweller, Rajesh Exports and Kalyan Jewellers have rallied up to 21 per cent on hopes of a bumper sales this Diwali season.

Jewellery stocks are likely to shine in coming months on the back of likely strong Q3 performance owing to the festive demand

Jewellery related stocks have witnessed massive gains since last Dhanteras and continue to trade with a firm bullish bias, indicating more upside for the shares.