Jewellery companies put shine on D-St with strong biz updates

Jewellery stocks rallied after strong June-quarter business updates, with Kalyan Jewellers surging up to 18.7 percent to about 444 rupees, while Senco Gold and Sky Gold & Diamonds gained 6 percent each and PC Jeweller rose 2 percent. Senco Gold posted 60 percent revenue growth with 38 percent same-store sales growth, Kalyan Jewellers clocked 38 percent growth, and PC Jeweller grew 21 percent while cutting over 90 percent of its settlement debt and guiding to debt-free status this quarter. Analysts cautioned that the rally is largely value-driven from higher gold prices rather than volume expansion and advised selectivity, though demand resilience and structural tailwinds for organised players remain intact.