Jewellery Stocks Shine

Given strong execution, analysts at Emkay Global Financial Services, too, remain confident of the high-teens earnings trajectory for Titan in the medium term

As on December 31, 2022, Ashish Kacholia's stake in Goldiam International stood at 1.01%, against nil or below 1% at the end of September quarter, data shows.

In the past three months, the stock declined 9 per cent, as against 4 per cent rise in the S&P BSE Sensex.

With this recent gain, the stock quoted 41 per cent higher against its issue price of Rs 87 per share

With the industry's formalisation and mandatory hallmarking by the Government, the company said that they are well-poised to capitalise on emerging opportunities and demands in the coming years.

Analysts see more upside for jewellery stocks as festive demand kicks in post the correction of gold prices

Jewellery stocks led by Titan Company surged on Monday on strong Q2 numbers by Titan, good seasonal sales for industry and on expectations of huge benefit for organised sector players following the compulsory hallmarking of gold jewellery with 14ct, 18ct and 22ct of purity.Food and Consumer Affairs Minister Ram Vilas Paswan, on Friday, had clarified that the government would make hallmarking of gold jewellery compulsory from January 1, 2018 to bring in uniformity in the country's jewellery sector. Currently, jewellers sell gold ornaments with different purity level to suit customers' needs and accommodate their financial capability. Thus, many jewellers sell ornaments between 9ct and 24ct.Shares of major jewellery companies jumped between 5 and 19 per cent on Monday."Titan is likely to be biggest beneficiary of shift from unorganised to organised across its key categories. We have been positively surprised by the growth rate in jewellery segment for last two quarters and the company ..