Brokerages back Titan, Kalyan, Senco as 15% gold duty hike tests jewellery sector
India's gold import duty hike to 15% pressures the jewellery category, but Antique and JM Financial favour organised players on lightweight designs, exchange buying and BIS hallmarking. Titan jewellery sales seen +45% FY26; Senco EBITDA +135% in 9M FY26 despite imports falling ~5% YoY.
India's gold import duty hike to 15% pressures jewellery sector, but brokerages Antique and JM Financial back organised jewellers Titan, Kalyan and Senco, citing lightweight jewellery, exchange buying, resilient FY26 demand and stronger BIS hallmarking compliance.
Why this matters
Reinforces repeated brokerage conviction in organised jewellers Titan, Kalyan and Senco, echoing prior signals that backed the trio despite the gold duty hike to 15%.
Retail-company signals accelerating, up 489000% QoQ.