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The Economic Times

Diamantaires cut working hours on lacklustre sales

Surat's diamond-cutting units have reduced work hours and increased weekly holidays due to low overseas demand, especially from China. This follows a muted response at the Hong Kong Jewellery Show. The industry faces challenges with unsold inventories, tighter credit conditions, and quality issues affecting exports.

Business Standard

Opportunities emerging for India's gems & jewellery in Middle East: GJEPC

The Middle East sees emerging opportunities for Indian jewellery exporters with countries like Saudi Arabia and Kuwait showing rising demand for studded gold jewellery, according to the Gem & Jewellery Export Promotion Council (GJEPC). The recent data has revealed a positive trend showcasing substantial growth in regions beyond the traditional strongholds for India's gems and jewellery, like the US and China, GJEPC has claimed. In a statement released here on Tuesday, GJEPC said there are emerging opportunities in the Middle East, with countries like Saudi Arabia (+26.05 per cent) and Kuwait (+87.99 per cent) showing a rising demand for studded gold jewellery. "Saudi Arabia, Kuwait, Bahrain, and Malaysia, in particular, have witnessed increasing exports due to the growing number of buyers from these countries attending the three India International Jewellery Show (IIJS) events -- Premiere, Signature and Tritiya -- in recent times. "The product profile of Indian jewellery is ...

The Economic Times

Opportunities emerging for India's gems & jewellery in the Middle East: GJEPC

Indian jewellery exporters are seeing rising demand in the Middle East, particularly in Saudi Arabia and Kuwait. The Gem & Jewellery Export Promotion Council reports significant growth in these markets, driven by increasing buyer attendance at Indian jewellery shows and favorable trade agreements like the India-UAE CEPA.

Mint

Jewellery stocks TBZ, Motisons Jewellers and 4 others soar up to 55% in September so far: What’s powering the rally?

Shares of Tribhovandas Bhimji Zaveri (TBZ) jumped 54% in September so far, while those of Motisons Jewellers, PC Jeweller, Senco Gold, Kalyan Jewellers, and Thangamayil Jewellery have jumped 47%, 36.35%, 18%, 16%, and 10% during the same period.

CNBC TV18

Titan sees strong demand in sub ₹1 lakh and above ₹5 lakh jewellery

Suvankar Sen, MD and CEO of Senco Gold, pointed out that while Q1 saw a slowdown in diamond jewellery sales due to factors like elections and heatwaves, the upcoming wedding and festive season has reignited consumer interest.

The Economic Times

Will China’s economic slowdown hurt gold market? Sachin Jain explains

​And jewellery market has been sluggish and has been down. And the revival of that is not necessarily to do with the revival of gold, but also an economy of jewellery and consumption generally in China.

The Economic Times

India's Commerce Ministry proposes task force to boost gem and jewellery exports

The commerce ministry is considering establishing a task force for the gem and jewellery industry to tackle sector challenges. This follows a meeting between the commerce secretary and industry leaders, who highlighted the need for policy support, enhanced liquidity, and a favourable business environment to boost exports amid global uncertainties.

Business Standard

Govt extends incentives to exports via courier medium to boost e-commerce

The government has extended incentives for exports through the courier medium, a move aimed at promoting shipments through e-commerce. This was informed in the meeting of Board of Trade (BoT) in Mumbai. "In the realm of e-commerce exports, the Board of Trade was informed by officials from the Central Board of Indirect Taxes and Customs (CBIC) that effective immediately, RoDTEP, RoSCTL, and drawback benefits will be extended to all exports made via courier," the commerce ministry said in a statement. It added that plans to extend these benefits to postal route exports are also in the pipeline, creating a more equitable environment for e-commerce exporters utilising the courier and postal mode. RoDTEP (Remission of Duties and Taxes on Exported Products) provides refunds of central, state, and local taxes and levies on exported products that are not covered by other schemes. The scheme covers a range of sectors, including marine, leather, gems and jewellery, agriculture, electrical,

The Economic Times

Jewellery stocks sparkle in CY24: 6 turn multibaggers, do you own any?

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Mint

TBZ, Motisons Jewellers, and 4 other jewellery stocks surge up to 18.5% as gold hits record high

Jewellery stocks surged as gold reached record highs due to central banks cutting interest rates amid easing inflation. Notable gains were seen in Kalyan Jewellers and others, while spot gold prices hit $2,570 per ounce, reflecting increased demand and investor sentiment.

CNBC TV18

Explained — What is aiding the glitter in jewellery stocks like Kalyan, Senco and will it continue

HSBC recently came out with a positive note on Kalyan Jewellers, where it projected that the stock can rise up to levels past ₹800, and that it has only reached the halfway mark in its value creation journey.

The Economic Times

Kalyan Jewellers shares jump 4% to hit 52 week high on Citi's target upgrade

Kalyan Jewellers Share Price: Other jewellery stocks like Senco Gold and Goldiam International also hit their fresh 52 week highs of Rs 1,292.45 and Rs 374, respectively. The stocks were up by 4% and 6% in the same order.

The Economic Times

Jewellery brand Trisu completes pre-seed funding led by All In Capital

Trisu, a jewellery brand founded by Saloni Chopra in 2023, has completed its first pre-seed funding round led by All In Capital. The funds will be used for customer acquisition, product innovation, and market expansion. Trisu aims to disrupt India's $80 billion jewellery market with affordable gold vermeil pieces and achieve significant growth by 2034.

Mint

P N Gadgil Jewellers IPO Day 2: GMP, subscription status, key dates, review, other details. Apply or not?

P N Gadgil Jewellers IPO was fully subscribed within hours, raising ₹330 crore. The company plans to open 12 new stores by FY26, capitalizing on the projected growth of India's jewellery market, expected to reach US$ 145 billion by FY28.

Business Standard

Investors subscribe PN Gadgil's IPO two times offer size on day 1

The initial public offer of jewellery retail chain PN Gadgil Jewellers Ltd got fully subscribed within a few hours of opening for bidding on Tuesday and ended the day with a two-time subscription. The Rs 1,100 crore initial share sale received bids for 3,38,86,720 shares against 1,68,85,964 shares on offer, translating into 2.01 times subscription, according to the NSE data. The portion for non-institutional investors got booked 3.26 times and the quota for Retail Individual Investors (RIIs) received 2.61 times subscription. The Qualified Institutional Buyers (QIBs) part got subscribed 1 per cent. PN Gadgil Jewellers Ltd on Monday said it has raised Rs 330 crore from anchor investors. The initial public offering (IPO) will conclude on September 12. The price band for the offer has been fixed at Rs 456-480 per share. The Maharashtra-based company's IPO is a combination of a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tun

Mint

PN Gadgil Jewellers' IPO: A glittering prospect?

PNG's strong brand and multi-channel strategy position it well for India's growing jewellery market, but investors should carefully assess sector risks before investing.

The Economic Times

Mumbaikars buy 55 kg gold to offer to Ganpati

Mumbaikars have purchased 55 kg of gold for Ganesh Chaturthi, 15 kg more than last year, driven by a positive market sentiment following a duty cut. The rise in gold offerings marks the beginning of the festive season and wedding season, with jewellery retailers seeing increased demand.

Business Standard

PN Gadgil Jewellers collects Rs 330 cr from anchor investors ahead of IPO

Jewellery retail chain PN Gadgil Jewellers Ltd on Monday said it has raised Rs 330 crore from anchor investors, a day before its initial share-sale opening for public subscription. ICICI Prudential Life Insurance Company, Tata Mutual Fund (MF), Axis MF, Mirae Asset MF, HDFC MF, Bandhan MF, Nippon India MF, Goldman Sachs (Singapore) Pte, Citigroup Global Markets Mauritius, Societe Generale, Troo Capital, The Jupiter Global Fund are among the anchor investors. According to a circular uploaded on BSE's website, the company has allocated a total of 68.75 lakh equity shares to 33 funds at Rs 480 apiece, which is also the upper end of the price band. This aggregates the transaction size to Rs 330 crore. The Rs 1,100-crore initial public offering (IPO) will open for subscription on September 10 and conclude on September 12. The price band has been fixed at Rs 456 to Rs 480 per share. The Maharashtra-based company's IPO is a combination of a fresh issue of equity shares worth up to Rs 850

Business Line

As prices soften, festival period triggers buying interest in gold jewellery

Sales up 20% during Ganesh Chathurthi, wedding demand could buoy demand for the precious metal further

The Economic Times

Jennifer Lopez, Rihanna opt for Sabyasachi jewellery

Jennifer Lopez and Rihanna were recently seen sporting designs by renowned couturier Sabyasachi Mukherjee at different events. Lopez attended the Toronto International Film Festival 2024 Golden Globes Party adorned in Sabyasachi jewellery, while Rihanna was spotted wearing accessories from the designer. This showcases the global appeal of Sabyasachi's creations.

The Economic Times

Jewellery stocks surge up to 18%, Crisil forecasts up to 25% revenue boost from import duty cut

Shares of Tribhovandas Bhimji Zaveri and PC Jewellers hit new 52-week highs, rising 18% and 5%, respectively, following a CRISIL report predicting a 22-25% revenue boost for retailers due to reduced gold import duties and better working capital management.

The Economic Times

Budget import duty cut will boost gold jewellery retailers' revenues by 22-25 pc this fiscal: CRISIL report

A recent analysis by CRISIL Ratings, which examined 58 gold jewellery retailers representing a third of the organised sector's revenues, indicates that the sector will benefit from improved working capital management.

Business Standard

Rajasthan gem, jewellery industry lands in the rough amid labour shortage

In 2022-23 (FY23), Rajasthan had exported around Rs 9,470 crore worth of gems and jewellery, with the trade tally climbing to around Rs 11,180 crore in FY24

Business Standard

PN Gadgil Jewellers' IPO for Rs 1,100 cr to open for subscription on Sep 10

Jewellery retail chain P N Gadgil Jewellers Ltd on Thursday fixed a price band of Rs 456-480 per share for its Rs 1,100-crore initial share sale and proceeds will be used for expansion plans and pare debt. The Initial Public Offering (IPO) will open for public subscription on September 10 and conclude on September 12 and the bidding for anchor investors will open for a day on September 9, the company announced. The Maharashtra-based company's IPO is a combination of a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tune of Rs 250 crore by promoter SVG Business Trust. At present, SVG Business Trust holds a 99.9 per cent stake in P N Gadgil Jewellers. Brokerage houses have pegged the company's market capitalisation at over Rs 6,500 crore post-issue. Of the fresh issue proceeds, around Rs 393 crore will be utilised for the funding of expenditure towards setting up 12 new stores in Maharashtra, Rs 300 crore for payment of debt,

Business Standard

PN Gadgil Jewellers' IPO for Rs 1,100 cr to open for subscription on Sep 10

Jewellery retail chain P N Gadgil Jewellers Ltd on Thursday fixed a price band of Rs 456-480 per share for its Rs 1,100-crore initial share sale and proceeds will be used for expansion plans and pare debt. The Initial Public Offering (IPO) will open for public subscription on September 10 and conclude on September 12 and the bidding for anchor investors will open for a day on September 9, the company announced. The Maharashtra-based company's IPO is a combination of a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tune of Rs 250 crore by promoter SVG Business Trust. At present, SVG Business Trust holds a 99.9 per cent stake in P N Gadgil Jewellers. Brokerage houses have pegged the company's market capitalisation at over Rs 6,500 crore post-issue. Of the fresh issue proceeds, around Rs 393 crore will be utilised for the funding of expenditure towards setting up 12 new stores in Maharashtra, Rs 300 crore for payment of debt,

Business Standard

Malabar Gold plans to launch 20 new showrooms in India, abroad in October

Malabar Gold & Diamonds, the world's sixth-largest jewellery retailer, on Thursday announced plans to launch 20 new showrooms in October as part of its global expansion strategy. The company will open three new showrooms in Uttar Pradesh, while two each in Delhi, Maharashtra, Karnataka, and Rajasthan and one new showroom each in Odisha, Telangana, West Bengal and Punjab. New showrooms will also be opened in Muwaileh in Sharjah; Muaither in Qatar; and Nakheel Mall in Saudi Arabia, as well as North America. "Opening 20 new showrooms in October aligns with our vision to become the world's leading retail jeweller. Our expansion plan focuses on sustainable and responsible growth that not only drives our business forward but also benefits society," Malabar Group Chairman M P Ahammed said, in a statement. The new showrooms will offer a diverse range of traditional and contemporary jewellery collections, coupled with a personalized shopping experience. Malabar Gold currently operates 355

Business Standard

Hilton Metal Forging Ltd leads losers in 'B' group

Pennar Industries Ltd, Thangamayil Jewellery Ltd, Cybertech Systems & Software Ltd and HOV Services Ltd are among the other losers in the BSE's 'B' group today, 04 September 2024.

Mint

Already a 10-bagger in two years, can this jewellery maker topple Titan?

Investors certainly seem to think so, given that its stock trades at 100 times its latest 12-month earnings versus Titan’s 90 times earnings. But we're not so sure.

Mint

Are India’s top 3 jewellery stocks breaking out? These charts reveal what could happen.

India’s diamond and jewellery sector is poised for a strong uptrend. The technical setups across three specific jewellery stocks show bullish patterns, each displaying unique characteristics supporting further trends.

Mint

Stock market today: Trade setup for Nifty 50 to global markets, five stocks to buy or sell on Tuesday — Sept 3

Stocks to buy today: Exeprts have recommended five shares to buy today —Thangamayil Jewellery, Patanjali Foods, Balkrishna Industries, ONGC, and Wipro

The Economic Times

Personal loan sees 14% growth; cards, gold major factors behind surge

Credit card dues have increased the fastest among bank loans, reaching nearly Rs 2.8 lakh crore by July's end, seeing a 22% year-on-year growth. Personal loans now make up the largest share of non-food credit at 32.9%, growing by 14.4%. Loans against gold jewellery increased the most within personal loans, surging by 39%.

The Economic Times

WGC raises India's gold consumption projection to 850 tonnes in 2024

The World Gold Council has revised its forecast for India's gold consumption in 2024 to 850 tonnes, up from 750 tonnes. The increase is attributed to a good monsoon and a reduction in the duty on gold. The demand is driven by jewellery, with the trend expected to continue during the Diwali-Dhanteras period. Meanwhile, gold ETFs in India are also witnessing growing interest as gold increasingly becomes a financial instrument.

Mint

Reliance Retail aims to double business in 4 yrs, enters luxury jewellery market

In FY24, Reliance Retail's gross revenue rose nearly 18% to more than ₹3.06 trillion, from ₹2.60 trillion a year earlier. Net revenue increased 18.25% to ₹2.73 trillion. In all, Reliance Retail added 1,840 stores last fiscal year, taking the total to 18,836 outlets.

The Economic Times

RIL AGM: Reliance Retail expects to double revenues, EBITA in the next 3-4 years

Reliance Retail plans to double its revenues and EBITDA over the next 3-4 years. It is venturing into luxury and fashion jewellery, launching new retail formats for mobiles and laptops, and expanding grocery retail in smaller towns. The company will enhance its presence in beauty and FMCG sectors while leveraging technology for better operations.

Business Standard

Reliance Retail eyes 2x rise in biz, luxe jewellery foray: Isha Ambani

In her speech, she said, "With the strong foundation we have built, I am confident that we will achieve our goal of doubling our retail business in the next 3 to 4 years."

Business Standard

Reliance Retail eyes 2x rise in biz, luxe jewellery foray: Isha Ambani

In her speech, she said, "With the strong foundation we have built, I am confident that we will achieve our goal of doubling our retail business in the next 3 to 4 years."

The Economic Times

Isha Ambani unveils Reliance Retail's plans to foray into luxe jewellery

Isha Ambani, Director of Reliance Retail Ventures Limited (RRVL), announced the company's entry into the luxury jewellery market with a focus on curated, design-led experiences. Reliance Retail is also exploring fashion jewellery and accessories to broaden its market reach.

The Economic Times

India overtakes China in natural diamond consumption as De Beers partners with Tanishq

India is now the second largest market for natural diamond jewellery after the US, surpassing China. De Beers has partnered with Tanishq to promote natural diamonds in the country. The collaboration aims to boost consumer education and interest, driven by India’s vibrant economy, growing middle class, and significant potential for further growth in diamond jewellery consumption.

The Economic Times

Tanishq in pact with De Beers to promote natural diamonds

India has surpassed China and is now the second-largest global market for natural diamond jewellery after the US. De Beers and Tanishq announced a partnership to promote natural diamonds in India. With growing demand and low penetration, this initiative aims to boost consumer awareness and confidence in natural diamonds.

Business Line

MDIL expands into Canadian market, following Dubai partnership

Parasmani Inc., with over a decade of experience in the Canadian wholesale jewellery market, will market and promote MDIL’s lab-grown diamond jewellery across Canada