National News
Jewellery Stocks Rebound as Expansion Strategies and High Prices Boost Confidence
Despite Concerns Over Rising Gold Prices, Retailers Remain Optimistic, with Major Players Gaining 2-20% in a Week
Jewellery stocks have made a strong comeback in the past week after a challenging three-month period marked by concerns over rising gold prices and their potential impact on demand. While higher gold prices have weighed on volume growth, jewellery companies are staying optimistic, anticipating continued top-line growth in the March quarter, driven by expansion plans and higher average transaction values.
Stocks of listed jewellery companies such as Titan Company, Kalyan Jewellers, PN Gadgil Jewellers, Thangamayil Jewellery, and Senco Gold have gained between 2% and 20% in the last week, recovering from the 4% to 40% drop seen over the past three months. Although fluctuating gold prices remain a challenge, their dual effect on revenues and affordability continues to be a major consideration for retailers. While higher gold prices boost revenue, they also reduce customer purchasing power, leading to slower volume growth. Seasonal factors, such as weddings and festivals, also play a key role in shaping demand.
Despite short-term pressures, jewellery retailers are doubling down on their expansion strategies. Kalyan Jewellers, for instance, plans to open 170 new stores in FY26, with 45 of them expected to be launched by the end of the March 2025 quarter. Titan Company added 46 new stores in the December quarter, bringing their total store count to 1,055. PN Gadgil Jewellers is also targeting 25 new stores in FY26, including 10 under its new format, LiteStyle by PNG, designed to appeal to younger customers with modern designs.
These expansion efforts signal the sector’s confidence in long-term demand for jewellery, despite the challenges posed by fluctuating gold prices.
National News
GST Seminar Successfully Conducted by MWGJA for Jewellery Industry
Industry-Focused GST Session sees Strong Participation, Offering Practical Insights On Compliance, Taxation, and Operational Challenges
The Mumbai Wholesale Gold Jewellers Association (MWGJA) successfully organised a highly informative GST seminar aimed at empowering the jewellery industry with practical knowledge and clarity on GST compliance on 23/04/26 at MP School.
The seminar, themed “Empowering the Industry with Knowledge – Learning, Growing, Leading,” witnessed an excellent response from jewellers and industry stakeholders across Mumbai.
The event was graced by distinguished dignitaries from the CGST Department, including:
- R. S. Maheshwari – Principal Commissioner, CGST Mumbai
- Rajan Mishra – Assistant Commissioner, CGST Mumbai
- Danish Akhtar – Superintendent, CGST Mumbai
- Sanyam Johari – Inspector, CGST Mumbai
Their valuable insights and practical guidance provided clarity on key GST issues faced by jewellers in their day-to-day operations.
Key topics covered during the seminar included labour charges (5% vs 18%), delivery challan rules and compliance, interstate movement of goods for sales and exhibitions, and common errors leading to notices, penalties, and input tax credit (ITC) blockage.
The session focused on real-world challenges and offered practical solutions, making it highly beneficial for attendees. The interactive Q&A session enabled participants to directly engage with the officers and resolve their queries.
The association’s office bearers, including President Mahesh Bafna, Secretary Shreyans Kothari, Vice Presidents Sandip Kothari and Dinesh Kothari, Treasurer Kamal Kothari, Past President Prakash Jain, Past Secretary Anil Pamecha, and Committee Member Nitesh Dhakad, played an active role in organising and successfully executing the seminar.
The event also received valuable support from leading industry bodies, including All India Gem and Jewellery Domestic Council (GJF), India Bullion and Jewellers Association (IBJA), Jewellers Youth Forum (JYF), Dagina Bazar Association, and Sarafa Welfare Association, further strengthening the impact and reach of the seminar.
The Association expressed sincere gratitude to the honourable chief guests, supporting associations, and all participants for contributing to the success of the seminar. It reaffirmed its commitment to continue organising such knowledge-driven initiatives for the benefit of the jewellery community.
The seminar concluded on a positive and impactful note, reinforcing the importance of awareness, compliance, and continuous learning in today’s evolving GST framework.
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