Brokerages back Titan, Kalyan, Senco as 15% gold duty hike favours organised jewellers
Antique and JM Financial retain Buy ratings across branded jewellers, arguing lightweight designs, exchange buying and BIS hallmarking tilt share toward organised players despite the duty hike. Targets: Titan Rs 4,763/4,900, Kalyan Rs 600, Senco Rs 475.
Following India's gold import duty hike to 15%, Antique and JM Financial retain Buy ratings on Titan, Kalyan and Senco Gold, citing lightweight jewellery, exchange buying and BIS hallmarking favouring organised branded jewellers over unorganised players.