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.
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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.
PC Jeweller Ltd on Thursday reported 21 per cent growth in consolidated revenue during the first quarter of this fiscal and said it will become a debt-free company during the July-September period. In a regulatory filing, the company said that it concluded the first quarter of 2026-27 with a consolidated revenue growth of about 21 per cent year-on-year. "Debt reduced by more than 90 per cent; Debt-Free status to be achieved in the current quarter itself," it said in the business update. PC Jeweller has reduced its outstanding debt that was payable to the banks under the terms of Joint Settlement Agreement, by another 24 per cent during the June quarter. "With this reduction, the company has now reduced its outstanding debt by more than 90 per cent as on date, since the execution of the Settlement Agreement with banks on 30 September 2024. The repayment of remaining outstanding debt and attaining a debt-free status in the ongoing quarter itself will significantly improve the company
PC Jeweller Ltd has posted a 61 per cent increase in consolidated net profit at Rs 152.89 crore for the quarter ended March 31, 2026 on higher total income. Its net profit stood at Rs 94.78 crore in the year-ago period. Total income grew to Rs 946.26 crore during January-March FY26 from Rs 700.10 crore a year ago, according to a regulatory filing on Wednesday. During 2025-26 fiscal, the net profit increased to Rs 714.46 crore from Rs 577.70 crore in the preceding year. Total income rose to Rs 3,549.58 crore from Rs 2,371.87 crore. "FY26 was an important year, as the company regained its momentum and delivered a strong performance throughout the year. This broad-based growth was driven by strong execution across the business, supported by continued consumer demand throughout the year, marking a meaningful progress in the company's ongoing turn around journey," MD Balram Garg said. He said the company would continue to strengthen and de-leverage its balance sheet and has made steady
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%
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The fall in gold prices, according to analysts, may actually support jewellery demand in the medium-term, even though it may create short-term pressure for some players