Jewellery stocks rally up to 18%; PC Jeweller, Senco Gold among top gainers
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Shares of jewellery companies rallied on Friday, October 16, with PC Jeweller rising as much as 18.68% to hit a 52-week high. Senco Gold, Sky Gold and Diamonds, Shanti Gold International, Thangamayil Jewellery and Tribhovandas Bhimji Zaveri (TBZ) also advanced amid buying across the sector.
PC Jeweller touched ₹17.15 during the session, while Senco Gold rose as much as 9.19% to ₹349.90. Sky Gold climbed 7.33% to an intraday high of ₹1,074.70, also a fresh 52-week high. Shanti Gold gained 8.71% to ₹425, hitting a 52-week high, while Thangamayil Jewellery advanced 9.19% to an intraday high of ₹5,232. TBZ rose 5% to ₹759.15, hitting a fresh 52-week high.
The rally came amid expectations of healthy festive and wedding-season demand. Around 17 mutual fund houses temporarily restricted fresh subscriptions to Gold ETF Fund of Funds on October 15 and 16. Gold prices also remained in focus as investors tracked demand ahead of Diwali.
India’s gem and jewellery exports rose 9.43% year-on-year to $2.95 billion in September, according to data from the Gem and Jewellery Export Promotion Council. Exports of studded gold jewellery rose 31.31% to $3.69 billion in the first half of FY27, while plain gold jewellery exports declined 8.81%.
Senco Gold reports 31% Q2 revenue growth
Senco Gold shares gained after the company reported a 31% year-on-year increase in revenue for the September quarter in its business update released on October 7. Retail revenue grew 29%, while same-store sales increased 19%.
The company attributed the performance to festive demand, higher gold prices and continued demand for lightweight jewellery. It expects demand to remain strong in the October-March period, supported by the wedding season and festivals.
PC Jeweller Q2 results on October 21
PC Jeweller’s rally came ahead of its Q2 FY27 results, scheduled for October 21. In a business update released on October 7, the company reported 28% year-on-year growth in consolidated revenue and said it had received about ₹142 crore from outstanding export debtors.
The company also said all 14 banks in its consortium had issued no-objection and no-dues letters following repayment of its outstanding bank borrowings.
A bulk deal on October 15 saw Aditya Kumar Halwasiya, promoter of Cupid, buy 5.10 crore PC Jeweller shares at ₹14.43 apiece, amounting to ₹73.59 crore.
Jewellery makers report strong Q1 growth
Sky Gold and Diamonds reported a 77.93% year-on-year increase in consolidated revenue to ₹2,012.79 crore in Q1 FY27. Net profit rose 136.95% to ₹103.28 crore, while its EBITDA margin improved to 7.8% from 6.3% a year earlier.
Shanti Gold International’s revenue rose 144.69% to ₹716.38 crore in the June quarter, while net profit increased 46.94% to ₹50.48 crore. Its EBITDA margin declined to 9.97% from 17.56% a year earlier.
Thangamayil Jewellery reported a 71.18% rise in Q1 revenue to ₹2,662.45 crore and an 86.15% increase in net profit to ₹85.09 crore.
TBZ’s revenue grew 34.8% year-on-year to ₹841 crore in Q1 FY27, while net profit rose 50.7% to ₹33.9 crore.