Thangamayil Jewellery shares jumped 52% in June, helping several Portfolio Management Service (PMS) strategies outperform benchmark indices. The retail company's strong fiscal fourth-quarter earnings and sector-specific policy changes supported the stock's rally. Investors should note that such concentrated portfolio bets can carry higher volatility compared to diversified investments.
In June 2026, a select group of Portfolio Management Service (PMS) strategies achieved returns between 10.5% and 14.5%, significantly outperforming the broader market. While the Nifty index saw minimal growth and the Sensex rose by 2.3%, these specific portfolios benefited from focused, high-conviction investments. A major contributor to this performance was Thangamayil Jewellery, a retail company that recorded a 52% stock price increase during the month.
The sharp rally in Thangamayil Jewellery followed its fiscal fourth-quarter 2026 results. The company reported a significant increase in revenue to ₹2,839 crore, nearly doubling compared to the previous year. Profitability also improved, with EBITDA rising to ₹214 crore, four times higher than the prior-year period. Beyond these financials, the organized jewellery retail sector saw support from recent regulatory changes regarding silver imports, which benefited established players. Institutional interest remained high, with some funds, such as the Equirus Wealth Long Horizon Fund, maintaining stakes as large as 22.6% in the company.
Financial Services Sector Contribution
The performance of these top PMS strategies was further bolstered by exposure to the financial services sector. The Nifty Financial Services index gained 6.18% in June, providing a strong backdrop for funds heavily invested in Non-Banking Financial Companies (NBFCs) and small-finance banks. For example, Amaltas Asset Management’s Strategic Opportunities Series I allocated over 50% of its portfolio to lenders including Muthoot Microfin, Piramal Finance, ESAF Small Finance Bank, and Utkarsh Small Finance Bank.
For investors, it is important to understand that while these strategies delivered high returns, they are often based on concentrated bets. This means the portfolio's performance is closely tied to the specific success of a few companies or a single sector. If these specific stocks or sectors face a downturn, the impact on such portfolios can be more pronounced than in a diversified mutual fund. As these PMS strategies track their next quarterly results, the market will monitor whether Thangamayil Jewellery can sustain its rapid growth in revenue and if financial service lenders can continue to benefit from prevailing demand trends.