Archive · 22 Sep 2026
BoB Capital upgrades Thangamayil Jewellery to buy, targets ₹6,355
BoB Capital Markets has become more positive about Thangamayil Jewellery’s shares.
It changed its recommendation from “hold” to “buy.”
The brokerage set a possible future price of ₹6,355 per share.
It believes the shares could rise by as much as 28%.
Thangamayil earned ₹85 crore in the quarter ending June 2026.
This was much higher than its profit in the same quarter last year.
The company’s sales and operating profit also grew strongly.
Its management expects more growth as stores expand and customers return for festive and wedding purchases.
BoB Capital Markets upgraded Thangamayil Jewellery from ‘hold’ to ‘buy’ with a target price of ₹6,355 per share.
The brokerage sees potential upside of up to 28%, citing an attractive risk-reward opportunity.
Thangamayil Jewellery reported an 86% year-on-year rise in Q1 2026 net profit to ₹85 crore.
Revenue increased 71.2% year-on-year to ₹2,666.4 crore, while EBITDA rose 66.2% to ₹144.6 crore.
The company expects 25% revenue growth and 6% EBITDA margins, supported by store expansion and recovering festive and wedding demand.
- Who
- BoB Capital Markets and Thangamayil Jewellery.
- What
- BoB Capital upgraded the jewellery stock to ‘buy’ and set a ₹6,355 target price after reviewing the company’s growth prospects and results.
- When
- The company’s reported quarter ended June 2026; the brokerage’s report discusses expectations for H2 2027.
- Where
- Thangamayil Jewellery is expanding its store network in Tamil Nadu.
- Why
- BoB Capital cited the company’s balance sheet, working-capital management, improving returns, expected revenue growth and potential recovery in deferred jewellery demand.
- Brokerage recommendation
- Upgraded from ‘hold’ to ‘buy’ by BoB Capital Markets
- Target price
- ₹6,355 per share
- Potential upside
- Up to 28%
- Q1 2026 net profit
- ₹85 crore, up 86% year-on-year
- Q1 2026 revenue
- ₹2,666.4 crore, up 71.2% year-on-year
- Q1 2026 EBITDA
- ₹144.6 crore, up 66.2% year-on-year
- Five-year share return
- 879.96%