Indian Jewellery Stocks Surge on Strong Earnings and Festive Demand; India Becomes World's Largest Gold Jewellery Market

Headline: Jewellery Sector Shines as Titan and Thangamayil Hit Record Highs Amidst Strong Demand

Summary: Indian jewellery stocks experienced a significant uplift, with Titan Company touching a 52-week high of ₹3,809.90 and Thangamayil Jewellery soaring to an all-time high of ₹3,093. This rally is underpinned by healthy earnings reports for the quarter ending September 2025 (Q2FY26) and strong festive season sales, particularly during Navratri. Thangamayil Jewellery reported a remarkable revenue increase of 178% year-on-year for October 2025, crossing the ₹1,000 crore mark for the first time, with gold ornament volumes jumping 77%. Titan's performance, despite elevated gold prices, was supported by its Tanishq brand's exchange offers and improved ticket sizes.

Impact The positive performance of these companies, along with gains in PC Jeweller, Kalyan Jewellers India, and Senco Gold, indicates strong investor confidence in the organised jewellery sector. The news signals robust consumer spending and favourable structural trends, suggesting potential for continued growth and higher valuations for sector players. Impact Rating: 7/10

Definitions: * **EBIDTA**: Earnings Before Interest, Taxes, Depreciation, and Amortization - a measure of a company's operating performance. * **PAT**: Profit After Tax - the net profit remaining after all expenses and taxes are deducted. * **50bps**: 50 basis points, which is equivalent to 0.50%. Often used to describe changes in margins or interest rates. * **YoY**: Year-on-Year - a comparison of financial data over two consecutive years. * **Q2FY26**: The second quarter of the financial year 2025-2026. * **CY24**: Calendar Year 2024. * **Tier-2/3 cities**: Cities that are not major metropolitan hubs but are significant regional economic centers. * **B2B**: Business-to-Business - a transaction between companies, rather than between a company and a consumer. * **Hallmarking**: A certification mark stamped on precious metal objects indicating the purity of the metal. * **Karat**: A unit representing the purity of gold, with 24 Karat being pure gold.