Jewellery Stocks Today: Jewellery stocks were buzzing in trade on Monday, with PC Jeweller, Tribhovandas Bhimji Zaveri (TBZ), Shankesh Jewellers and Thangamayil Jewellery among the top gainers, rising up to 15% in intraday deals amid heavy trading volumes.
PC Jeweller surged as much as 14.7% to an intraday high of Rs 13.65, while Tribhovandas Bhimji Zaveri hit the 10% upper circuit at Rs 519.75.
Shankesh Jewellers rallied 7.91% to an intraday high of Rs 106.84, while Thangamayil Jewellery gained 3.16% to touch Rs 5,500.
The sharp gains came alongside strong trading activity across these counters. In PC Jeweller, 594.48 lakh shares worth Rs 76.94 crore changed hands on the BSE, while 9,520.73 lakh shares worth Rs 1,237.70 crore were traded on the NSE. Shankesh Jewellers saw 47.57 lakh shares worth Rs 49.65 crore change hands on the NSE and another 8.43 lakh shares worth Rs 8.77 crore on the BSE.
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t TBZ, 2.39 lakh shares worth Rs 12.64 crore were traded on the NSE, while 2,513 shares worth Rs 13.06 lakh changed hands on the BSE. Thangamayil Jewellery saw 0.46 lakh shares worth Rs 24.79 crore traded on the NSE, along with 1,952 shares worth Rs 1.06 crore on the BSE.
Jewellery Stocks: Expert View
The strength in jewellery stocks appears to be a combination of improving sector sentiment and company-specific triggers, according to Harshal Dasani, Business Head, INVAsset PMS.
“The recent correction in gold prices has marginally improved affordability just as the festive and wedding demand cycle approaches,” Dasani said.
He added that organised jewellers continue to gain market share from the unorganised segment, giving the sector a structural growth runway even as gold prices remain elevated.
However, the triggers vary across individual stocks. PC Jeweller is benefiting from progress on debt reduction, while TBZ has a separate catalyst linked to the proposed change in control involving GRT Jewellers, Dasani said.
Meanwhile, Thangamayil Jewellery and other jewellery stocks are attracting renewed investor interest on expectations of stronger seasonal demand as the festive and wedding period approaches.
Dasani said the overall setup for the jewellery sector remains constructive, but cautioned that the recent sharp moves could make sustained re-rating more dependent on underlying business performance.
“The setup looks constructive, but after the recent sharp moves, sustained re-rating will depend on volume growth, margins and earnings delivery rather than momentum alone,” he said.
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