1 hr ago
Jewellery Stocks Rally Ahead of India’s Festive Buying Season
Jewellery company shares went up on Monday.
Kalyan Jewellers rose more than Titan and PC Jeweller.
Investors are looking ahead to festivals such as Dhanteras and Diwali, when jewellery buying is traditionally strong.
They are also waiting for companies to share their September-quarter sales updates.
Those updates had not been released at the time of the article.
An analyst said the rally is mostly based on expectations.
Firm gold prices may also be helping investor confidence.
The share-price gains do not yet confirm how much jewellery companies sold.
Jewellery shares rose on Monday amid broader positive sentiment in the Indian stock market.
Kalyan Jewellers gained about 4.72%, while Titan and PC Jeweller rose around 1.5% and 1.25%, respectively.
Analyst Abhinav Tiwari said investors may be positioning ahead of festive-season jewellery demand.
Dhanteras and Diwali are approaching, and companies are expected to release provisional September-quarter sales updates this week.
The article says the rally is expectation-driven; firm gold prices may also be supporting sentiment.
- Who
- Kalyan Jewellers, Titan Company and PC Jeweller, with analyst Abhinav Tiwari commenting on the rally.
- What
- Jewellery stocks rose, led by Kalyan Jewellers.
- Where
- The Indian stock market.
- When
- Monday’s intraday trading session; the article does not give a calendar date.
- Why
- Investors anticipate festive-season demand and upcoming September-quarter sales updates; firm gold prices may also support sentiment.
Key facts
- Kalyan Jewellers price
- ₹554.50 per share, up 4.72% at 11:30 am; intraday high ₹556.40 and low ₹529.50.
- Kalyan Jewellers market capitalisation
- ₹57,266.04 crore at 11:30 am.
- PC Jeweller price
- ₹12.98 per share, up 1.25%; intraday high ₹13.31 and low ₹12.94.
- Reported six-month returns
- Kalyan Jewellers: 40%; PC Jeweller: 57%.
- Reported one-year returns
- Kalyan Jewellers: 12%; PC Jeweller: down 3%.
- Upcoming updates
- Jewellery companies were expected to release provisional September-quarter sales updates that week; the updates had not yet been released.
- Analyst
- Abhinav Tiwari, senior research analyst at Bonanza, described the rally as largely expectation-driven.
Quotes
Abhinav Tiwari
Senior research analyst at Bonanza.
“Jewellery companies are expected to release their September-quarter provisional sales updates this week, but these updates have not been released yet. Therefore, today's rally is largely expectation driven. The market is essentially driven by the festive season and upcoming quarterly business updates.”
livemint.com
“Early October marks the beginning of the key jewellery buying season, with Dhanteras and Diwali approaching. This is traditionally one of the strongest periods for gold and jewellery demand in India. Market is therefore positioning themselves ahead of potentially higher festive sales.”
livemint.com
Sources
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