Jewellery stocks in focus as gold prices rebound ahead of Dhanteras
Market experts identify several jewellery companies to watch as rising gold prices and festive demand boost sector sentiment.
Jewellery stocks saw increased interest on Thursday, 5 November, as a recovery in gold prices lifted sentiment in the sector ahead of Dhanteras, according to a Mint report. Spot gold rose 1.9 per cent to $4,134.83 per ounce by 0316 GMT on Thursday, reaching its highest level since 22 October.
The recovery in bullion prices follows a period where gold had corrected by nearly 12 per cent over the last six months. Experts noted that a weaker US dollar and falling US Treasury yields, following the Democratic Party's performance in US midterm elections, helped drive the rebound.
Market analysts are selectively bullish on organised jewellers and manufacturers. Preeyam Tolia, Research Analyst at Choice Institutional Equities, said the sector has outperformed the broader retail industry due to resilient demand despite high gold prices. Tolia expects the second half of FY27 to outperform the first half, supported by wedding demand.
Choice Institutional Equities identified B2B manufacturers Shanti Gold and Shringar House of Mangalsutra as preferred picks, setting target prices of ₹350 and ₹330 respectively. Sunny Agrawal, Head of Fundamental Research at SBI Securities, recommended monitoring Sky Gold, P N Gadgil Jewellers, Senco Gold, and Titan.
Kranthi Bathini, Equity Strategist at WealthMills Securities Pvt. Ltd., suggested tracking Titan and Kalyan Jewellers among large-cap stocks, while recommending Tribhovandas Bhimji Zaveri, Khazanchi Jewellers, and Lalithaa Jewellery Mart in the mid- and small-cap segments.
From a technical perspective, Virat Jagad, Senior Technical Research Analyst at Bonanza, noted that Titan Company and P N Gadgil Jewellers showed positive momentum. He suggested an entry range of ₹4,800–4,835 for Titan with targets of ₹5,100 and ₹5,200.
