Latest news with #AkshayaTritiya
New Indian Express
4 hours ago
- Business
- New Indian Express
Surge in gold prices triggers chain reaction, goldsmiths worst affected
COIMBATORE: Jewellery sales in Coimbatore, one of India's largest gold manufacturing hubs, have dropped by 60% this year, with only 40% of usual business taking place as record-high gold prices push buyers to hold back on purchase of jewellery. The slowdown has left goldsmiths struggling to make ends meet, with many facing prolonged periods without work after losing nearly 70% of their usual workload. While footfall at retail counters remains steady, actual sales have dipped sharply, forcing jewellers to run at reduced capacity, say industry leaders. Gold prices in India have surged by over 27% in just six months, reaching an all-time high in June and continuing to stay elevated through July. Between January 1 and July 16 this year, the price of gold rose by Rs 15,600 per sovereign (22K gold), a 27.27% increase. This follows a 21.67% rise in 2024, when prices climbed by Rs 10,184 per sovereign (22K gold) over the year. The pace of the current spike, experts say, is unprecedented. "Even before people could get used to Rs 60,000 per sovereign, the price crossed Rs 70,000. That kind of rapid spike shrinks the market in a very real way," said B Sabarinath, president of the Tamil Nadu Jewellers Federation. He noted that business is currently running at just 40% of last year's levels. "Earlier, people purchased gold on auspicious days. Now, even a minor fall in rates becomes an occasion to buy," he added. On peak days such Akshaya Tritiya, sales volume dropped to 70% when compared to last year, even though the overall revenue remained steady due to the higher price. Now, many retailers are stuck with unsold stock and tighter margins. This slowdown has triggered a chain reaction across the gold sector. "When retailers don't get sales, they reduce orders. If we don't have orders, we don't send work to the goldsmiths," said Muthu Venkatraman, president of the Coimbatore Gold Manufacturers Association.
Mint
4 days ago
- Business
- Mint
PC Jeweller vs Senco Gold vs Kalyan Jewellers: Which stock to buy ahead of Q1 results 2025?
Jewellery stocks: The jewellery sector is witnessing momemtum as investors look forward to the Q1 FY26 results of listed companies such as PC Jeweller, Senco Gold, and Kalyan Jewellers. Traditionally, this quarter benefits from festive buying during Akshaya Tritiya and the busy wedding season — a pattern that has held true this year as well. Despite some volatility in gold prices, all three firms have noted robust demand in their April to June business updates, driven by high-ticket purchases and strong customer turnout. Senco Gold said that festivals such as Poila Boishakh and Baisakhi led to increased footfall at its stores. Kalyan Jewellers experienced strong customer engagement across both India and the Middle East. PC Jeweller, with its primary focus on the domestic market, witnessed a significant rise in demand fueled by wedding and festive buying. According to Gaurav Goel, Founder & Director at Fynocrat Technologies, all three companies have had a strong quarter, but for a risk-averse investor, Senco Gold stands out as the more balanced and dependable choice. It has shown steady growth, improved margins, and continued to build its brand while being transparent in its business updates. Senco Gold posted 28 percent growth in total revenue, including 24 percent growth in retail revenue and a 19 percent rise in same-store sales. It opened nine new jewellery stores and continued building its portfolio of sub-brands like Sennes and Everlite. The company also said that diamond jewellery remained in strong demand and that gold exchange made up 40 percent of its overall sales. Kalyan Jewellers reported a 31 percent growth in overall revenue and highlighted that its digital-first platform, Candere, grew by 67 percent compared to last year. The company opened 19 new showrooms during the quarter and confirmed plans to add 170 more across India and international markets this year PC Jeweller reported the highest revenue growth among the three, at around 80 percent compared to the same period last year. The company said this growth was driven by strong wedding and festive demand. It also reported that it has further reduced its outstanding debt and remains on track to become debt-free by the end of FY26. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, said on all three jewellery stocks - PC Jeweller has recently broken out above the ₹ 12 level, achieving a new 52-week high at ₹ 19 on the weekly chart. The formation of a bullish engulfing pattern further confirms strong bullish momentum and the possibility of continued rally. However, the stock is currently in an overbought condition, and a stiff resistance is evident around the ₹ 20–22 zone. A decisive breakout above this resistance would be necessary for the next leg of the rally. For now, support is seen around ₹ 13–14. Traders are advised to avoid fresh positions at current levels and instead look for buying opportunities near the support zone. A dip-buying strategy may be considered with a stop-loss at ₹ 12 and an upside target of ₹ 22. Senco Gold has formed a bullish engulfing pattern on the weekly chart, a classic bullish signal that indicates potential for further upside momentum. The stock also appears to be rebounding from key Fibonacci retracement levels, supporting the likelihood of a continued upward trajectory. The expected upside range is projected between ₹ 470 and ₹ 510 in the coming months. Investors holding the stock may consider maintaining their positions, with a stop-loss placed at ₹ 300, while targeting the ₹ 420 mark in the medium term. Kalyan Jewellers has witnessed a significant trendline breakout on the monthly chart, particularly above the ₹ 570 mark, indicating the potential for a strong upward move. This breakout is visible on both the weekly and monthly timeframes, suggesting robust bullish sentiment. In the short term, technical indicators such as the RSI are showing strength, further supporting the bullish bias. Considering the overall structure, traders may adopt a "buy on dips" strategy, especially around the ₹ 550–570 zone, which now acts as a crucial support area and could offer an attractive entry point for medium to long-term gains. So, Investor can hold and buy this stock with stop loss of 530 for the target price of 650. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Hindustan Times
4 days ago
- Politics
- Hindustan Times
Grand flag hoisting ceremony at Ram temple in Ayodhya likely in November
Shri Ram Janmabhoomi Tirath Kshetra Trust is planning a grand event for the flag hoisting ceremony at Ram Mandir in Ayodhya in which sadhus from all over the country will be invited. The event is likely to be organised on November 25 this year. The event will feature the Ram Barat procession, which will be taken out the first time from the Ram temple. (HT file) However, the Trust is yet to officially announce the date. The Trust has started preparing the list of invitees and its general secretary Champat Rai is overseeing all preparations for the mega event. 'The Trust is planning a grand flag hoisting ceremony in November at Ram Mandir's flagpole. The event is proposed on a large scale and guests from across the country will be invited,'said a member of the Trust. A 42-foot flagpole was installed on the Ram temple on April 29, 2025, ahead of Akshaya Tritiya. It was placed on the temple's peak after the completion of the spire. 'A special flag will be prepared to be hoisted over Ram Mandir which will represent Hindu religion and culture. The event will take place in November,' said VHP regional spokesperson Sharad Sharma who operates from Karsevakpuram. The Trust is planning to organise the event on the same scale as the first Pran Pratishtha ceremony of Ram Lalla was organised on January 22, 2024, in which Prime Minister Narendra Modi was the chief guest. The event will feature the Ram Barat procession, which will be taken out the first time from the Ram temple. The procession might be limited to the temple premises or might be taken out for a city tour, with a final decision pending. Devotees from across the country will participate in the celebrations with lakhs of followers attending the event. According to the Trust, discussions will be held with sadhus and senior officials to finalise the arrangements. The event will be a significant milestone in the temple's calendar, showcasing the rich cultural heritage and traditions associated with Lord Ram's wedding also.
Economic Times
5 days ago
- Business
- Economic Times
Gold rally cools but jewellery stocks sparkle with up to 45% return in FY26
Let's take a closer look at what's fueling this rally: Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel India's top jewellery stocks have put on a dazzling show in FY26, with share prices of PC Jeweller , Kalyan Jewellers, Senco Gold , and Titan Company surging between 10% and 45% so far this fiscal. Although gold prices have eased slightly following a sharp run-up, and macroeconomic uncertainties persist, these stocks have remained unaffected — a testament to the strong investor confidence in the sector's resilience, sustained demand, and promising growth rally isn't just sentiment-driven—it's backed by solid fundamentals. All four players delivered strong Q1 business updates, each benefiting from a combination of factors — including robust revenue growth driven by Akshaya Tritiya sales, regional festivities, and aggressive showroom expansion. Consumer preferences are also evolving, with a clear shift toward lightweight jewellery and gold coins, while brands are bolstering performance through strategic marketing efforts and prudent debt management. Together, these trends highlight the sector's ability to shine even amid challenging macroeconomic performance in FY26 so far shows PC Jeweller leading the pack with a sharp gain of 44%, followed by Kalyan Jewellers India and Senco Gold, both rising about 25%. Meanwhile, Titan—the largest company by market capitalization in the segment—has registered a gain of 12%.PC Jeweller made a powerful comeback in FY26, emerging as the top performer among gold stocks. A massive 80% year-on-year revenue spike in Q1 — thanks to strong wedding and festive demand — set the tone. But what truly caught investor attention was the company's sharp focus on debt reduction, trimming bank borrowings by 7.5% in Q1, following a 50% cut in FY25. With plans to go debt-free by FY26-end, and operational momentum backing that target, investor confidence surged. The market rewarded PC Jeweller's discipline and ambition — with stock prices gleaming early in the fiscal Jewellers is proving the power of multi-channel growth, clocking 31% revenue growth across Indian and international markets in Q1. India operations thrived with an 18% jump in same-store sales, while its digital-first brand Candere soared with 67% growth, fuelled by a fresh marketing campaign and strong online traction. Overseas markets — particularly the Middle East — also held up well, contributing 15% to consolidated revenue. With a massive showroom rollout planned (170 in FY26) and momentum across physical and digital fronts, Kalyan is all set for a golden expansion Gold sparkled this year with a perfect blend of strong festive traction, rapid retail expansion, and creative marketing. Q1 revenue jumped 28%, including 24% YoY retail growth and 19% same-store sales growth (SSSG) — driven by high footfall during Akshaya Tritiya, Poila Baishakh, and Baisakhi. Despite a 32% YoY rise in gold prices, the brand sustained demand with clever tactics like promoting old gold exchange, which made up 40% of total sales. With 9 new stores added in Q1 and fresh campaigns like Bangle Utsav and The Golden Curve drawing crowds, Senco is shaping up as a major contender in the modern jewellery the most diversified and stable player in the pack, continues to play the long game — and win. Tanishq's domestic jewellery business grew 18% YoY in Q1, while high gold prices nudged consumers toward lighter jewellery and gold coins. Though the studded jewellery segment saw slightly muted volume growth, overall ticket sizes increased, helping drive early double-digit Titan's US jewellery business nearly doubled YoY, boosting the company's international revenue by 49%. The company also added 19 jewellery stores in India and launched outlets in Dubai and Sharjah, showcasing its global push. Add in strong growth in watches (+23%) and eyewear (+12%), and Titan proves once again why it remains a solid gold pick in uncertain times.
Mint
7 days ago
- Business
- Mint
Kalyan Jewellers India declares board meeting date to declare Q1 results 2025. Details here
Shares of jewellery major Kalyan Jewellers are in focus after the company declared that its board will meet on August 7, 2025, to consider and approve the unaudited financial results for the quarter ended June 30, 2025 (Q1FY26). The announcement comes on the back of a strong operational update for the first quarter, with robust growth reported across India and international markets despite demand headwinds. In an exchange filing on July 10, Kalyan Jewellers India Ltd informed investors that its Board of Directors will meet on Thursday, August 7, 2025, to review and approve the standalone and consolidated financial results for Q1FY26. The filing, made in compliance with Regulation 29(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, also noted that other business matters may be considered at the meeting. In a preliminary update shared earlier, Kalyan Jewellers reported a 31 percent year-on-year growth in consolidated revenue for the June 2025 quarter. The company stated that despite challenges such as gold price volatility and global geopolitical tensions, the quarter had been 'very fulfilling.' Its India operations saw a revenue growth of 31 percent in Q1FY26 compared to the year-ago period, driven by robust demand during Akshaya Tritiya and the wedding season. The company also posted an 18 percent increase in same-store sales in India. Internationally, Kalyan Jewellers reported a 31 percent rise in revenue, with its Middle East business contributing a 26 percent growth, mainly fueled by same-store performance. International operations accounted for 15 percent of the company's total consolidated revenue for the quarter. The digital-first jewellery platform Candere also saw an impressive 67 percent year-on-year revenue growth during the quarter. The company opened 10 new Kalyan showrooms in India, one in the US, and eight new Candere showrooms during Q1FY26. With these additions, the total showroom count stood at 406 across India and the Middle East as of June 30, 2025. Looking ahead, Kalyan Jewellers has ambitious expansion plans. The company aims to launch 170 new showrooms during FY26—comprising 75 Kalyan showrooms in non-south India, 15 in south India and overseas markets, and 80 Candere showrooms across India. All Kalyan showrooms are planned under the FOCO (Franchisee Owned Company Operated) model, highlighting the company's capital-efficient expansion strategy. In Q4FY25, the company reported a 36.5 percent year-on-year increase in net profit to ₹ 187.6 crore. Revenue also grew 36.6 percent year-on-year to ₹ 6,181.5 crore. EBITDA rose 34.8 percent to ₹ 399 crore, although EBITDA margin fell slightly by 10 basis points to 6.5 percent. The strong March quarter performance set the tone for a robust beginning to FY26. Commenting on the quarter, Executive Director Ramesh Kalyanaraman said, 'We had an excellent start to the current financial year despite continuing volatility in gold prices. We witnessed robust growth during Akshaya Tritiya and continue to see encouraging consumer demand, especially for wedding jewellery.' The company has also proposed a final dividend of ₹ 1.50 per equity share for FY25, subject to shareholder approval at the upcoming Annual General Meeting. Kalyan Jewellers' stock has gained over 16 percent in the past year. In July 2025 so far, the stock is up around 5 percent, rebounding from a marginal 1 percent decline in June. It saw positive momentum earlier this year with gains of 8.5 percent in May, 10.5 percent in April, and 1 percent in March. However, it had declined 8 percent in February and suffered a steep fall of 34 percent in January. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
