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Jewellery stocks split as festive demand outlook meets record-high gold prices
Indian jewellery stocks are mixed ahead of festive and wedding demand. Stable gold prices and retailer inventory-building are supporting recovery expectations, while high gold prices are pushing consumers toward lighter, lower-carat products and payment schemes.
Newer report , , Moneycontrol : UBS initiates Kalyan Jewellers with Buy rating, sees 50% upside
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Reported figures
From the report. Source details below
| Gold price: | Rs 1,63,079 per 10 grams on MCX, up 0.15% |
|---|---|
| Spot gold: | $4,642.74 per ounce, down 0.3% on Aug. 26 |
| Thangamayil: | Rs 5,478.5, up over 1.5% today; down over 20% in one month; up over 146% in one year |
| Sky Gold: | Rs 850.5, up 1%; up over 179% in one year and over 30% in one month |
| Kalyan Jewellers: | Rs 613.2, up 0.1%; up nearly 23% in one year and 6.8% in one month |
| PC Jeweller: | Rs 10.96, down around 0.4%; down 16.03% in one year |
| Senco Gold: | down close to 2%; down 3.06% in one year |
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