Whalesbook
Sona Huya Mehnga, Jewellery Sector Pareshan?
Sabse pehle baat karte hain gold aur silver ki. Indian government ne inki customs duty ko 6% se double se bhi zyada, matlab 15% kar diya hai. Iska seedha matlab hai ki bahar se gold import karna ab zyada mehnga padega. Government chahti hai ki imports kam hon aur forex reserves par pressure gire. Ab jab import cost badhegi, toh gold ka price bhi ghar mein badh sakta hai, jisse log shayad kam khareeden. Jewellery companies jaise Titan Company Ltd. (Market Cap: ₹3,60,024 Cr) aur Rajesh Exports Ltd. (Market Cap: ₹3,285.10 Cr) ko short term mein thodi dikkat aa sakti hai kyunki log zaruri kharidari hi karenge.
Industry Mein Orders Ka Toofan!
Ab aate hain achhi khabar par! Jidhar jewellery sector thoda down lag raha hai, wahi manufacturing aur infra sectors mein orders ka jaise toofan aa gaya hai. Bade bade contracts mil rahe hain. Jaise, Alfa Transformers ko ₹8.15 crore ka order mila, Interarch Building Solutions ko ₹102 crore ka steel building order mila, aur Chiraharit ko ₹1.49 crore ka module cleaning system ka order mila hai. Q2 FY26 mein manufacturing sector ka GVA growth 9.13% tak pahunch gaya hai. Ye sab government ke infra development par focus ke karan ho raha hai, jismein Union Budget 2026-27 mein ₹12.2 lakh crore ka record amount diya gaya hai.
International Aur Domestic Level Par Company Ke Move
Companies bhi piche nahi hain. Texmaco Rail and Engineering Ltd. (Market Cap: ₹4,301 Cr, P/E: 27.6) ne South Africa ki ek company se freight wagons aur locomotives ke liye ₹4,045 crore ka bada deal sign kiya hai. Ye unki international reach dikhata hai. Wahi, Active Clothing Co. (Market Cap: ₹218 Crs, P/E: 18.1) ab Tier 2 aur Tier 3 cities par focus kar rahi hai. Wo NUEMO naam se ek multi-brand retail platform launch kar rahe hain jisse 4 saal mein ₹200–250 crore revenue ka target hai. Chhoti cities mein badhte consumer market ko pakadne ki ye achhi strategy hai.
Aage Kya Ho Sakta Hai? (Risks Aur Outlook)
Abhi bhi kuch risks hain. Gold duty badhane se grey market aur smuggling badh sakti hai. Texmaco Rail jaise companies ko bade international orders execute karne mein supply chain ya geopolitical issues ka saamna karna pad sakta hai. Input costs aur inflation bhi manufacturers ko affect kar sakte hain. Aur Active Clothing Co. ko NUEMO ko smaller cities mein successfully launch karne mein challenges aa sakte hain. Unka debt-to-equity ratio 1.36 hai, toh debt management zaroori hai.
Overall, jewellery sector mein thoda pressure rahega, par organised players manage kar lenge. Manufacturing aur infra sectors solid dikh rahe hain, government spending aur achhi order books ke sahare. FY27 mein India ki economy 6.8-7.2% grow karne ki ummeed hai. Union Budget ka infra focus companies ke liye opportunities banayega.