Senco Gold said that Q2 revenue growth accelerated to 29 per cent Y-o-Y at retail level, supported by 19 per cent growth from existing stores (SSSG growth).
To offset higher gold costs, retailers are focusing on exchange, lower price points
Post quarterly earnings, analysts at Motilal Oswal Financial Services have retained a 'Neutral' rating on Senco Gold with a target price of ₹404.
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.
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.
Senco Gold said that its standalone revenue grew around 60 per cent Y-o-Y in Q1, while retail revenue increased 48 per cent and same-store sales growth stood at 38 per cent.
Stocks to watch today: HDFC Bank, Coal India, Tata Steel, Sobha Ltd, Bank of Baroda, Radico Khaitan, Senco Gold, Fortis Healthcare, IndusInd Bank, Dabur, among others, will be in focus today.
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%
Shares of jewellery companies witnessed selling pressure on Monday after PM Modi urged citizens to abjure from purchasing gold and gold jewellery for the next one year.