- Jewellery stocks showed mixed trends amid rising gold prices before the festive season
- PC Jeweller shares rose nearly 7% while Senco Gold gained about 6.5% on strong Q2 revenue
- Kalyan Jewellers fell 2% despite reporting over 26% consolidated revenue growth in Q2
Jewellery stocks were mixed in Thursday's trade as gold prices surged ahead of the festive and wedding season. While shares of PC Jeweller and Senco Gold advanced sharply, BlueStone Jewellery and Kalyan Jewellers declined, showing that the broader sector move was not uniform.
On the MCX, gold futures expiring this Dec. 4 were trading at around Rs 1,49,371 per 10 grams, up 0.18% in intraday trade on Thursday. With the festive season approaching, investors are tracking whether strong jewellery demand can offset the impact of elevated gold prices.
PC Jeweller, Senco Gold Shares Gain
Around 2:38 p.m., PC Jeweller shares rose 6.93% to Rs 14.07 on the NSE, compared with the previous close of Rs 13.14.
Similarly, Senco Gold shares also gained around 6.50% to Rs 341.35, after opening at Rs 346.05, against the previous close of Rs 320.6 on the NSE.
Senco Gold also has a stock-specific trigger as the company reported a 31% year-on-year increase in Q2 FY27 revenue, while retail revenue grew 29%. The company also reported 19% same-store sales growth, supporting the positive sentiment around the stock.
Kalyan Jewellers Falls Despite Q2 Update
On the contrary, Kalyan Jewellers shares fell around 2% to Rs 557.8 around 2:42 p.m., against its previous close at Rs 569.
Kalyan Jewellers also has a company-specific trigger as the company announced its Q2 FY27 business update on Wednesday, Oct. 7. It reported consolidated revenue growth of more than 26%, while its India operations grew about 27%. Kalyans' same-store sales growth was approximately 20%.
The company also said its new regional brand, Akshaya Thanga Maligai, launched in Chennai in August, had seen strong revenue traction in its first 40-plus days, and thus the company planned to open four more franchised showrooms during the current financial year.
BlueStone, Thangamayil Trade Mixed
Another jewellery stock that fell sharply was BlueStone Jewellery and Lifestyle Ltd. The stock declined 4% to Rs 797.80, compared to its previous close of Rs 831.1 on the NSE.
Meanwhile, Thangamayil Jewellery gained 0.62% to trade at Rs 4,833 at around 2:47 p.m. today.
Overall, the movement in the jewellery stocks suggests that while elevated gold prices and the approaching festive season are supporting sentiment across the jewellery space, stock-specific business updates are driving individual counters in different directions.
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