Brokerages back Titan, Kalyan, Senco despite 15% gold duty hike
India's gold import duty hike to 15% pressures the jewellery sector, but Antique and JM Financial retain Buy ratings on branded chains, citing resilient demand, lightweight designs, exchange-led buying and formalisation. Titan FY26 jewellery sales up 45%, Senco EBITDA up 135%; targets set at Rs 4,900 (Titan), Rs 600 (Kalyan), Rs 475 (Senco).
India's gold import duty hike to 15% pressures jewellery sector, but brokerages Antique and JM Financial retain Buy ratings on Titan, Kalyan and Senco, citing resilient demand, lightweight designs, exchange-led buying and formalisation favouring branded chains.