Five Jewelry stocks Ignite after a Dreary time and give up to 20% weekly Gains
After a sluggish performance in recent months, jewelry stocks are back in the spotlight. Concerns about rising gold prices had dampened optimism, but the sector has rebounded sharply over the last week, with key equities jumping up to 20%. Companies are confident about the March quarter, with strong gold prices projected to boost revenue despite lower volumes. Expansion aspirations and increased transaction prices remain important growth drivers. According to ET Bureau, retail names such as Titan Company and Kalyan Jewelers, among others, have seen significant increases in the last week, beating the overall Nifty 50. As gold prices fluctuate, the sector must balance margin growth and demand moderation, but forthcoming festivals and wedding season may bolster sentiment even more.
- Senco Gold had the biggest weekly gain among jewelry companies, jumping 19.6%, significantly surpassing the Nifty’s 5.6% increase during the same time.
- Kalyan Jewellers rose 13.7% this week, boosted by robust store development plans and a 16% year-on-year increase in same-store sales growth in Q3.
- PN Gadgil Jewellers gained 9% in the last week, rebounding from recent underperformance and attracting attention with its new LiteStyle model for younger consumers.
- Thangamayil Jewellery increased 6.8% this week, recouping some losses despite a drop in same-store sales growth.
- Titan Company, the industry leader, gained 2.3% this week. While the increase was slight, the corporation continued its rapid development, opening 46 shops in the December quarter.
- During the same period, the Nifty 50 increased by 5.6%, helping most jewelry stocks do far better in contrast.
