Brokerages back Titan, Kalyan, Senco despite 15% gold import duty hike
Antique and JM Financial stay positive on branded jewellers, citing resilient demand, lightweight designs, exchange-led buying and BIS hallmarking formalisation. Titan seen posting +45% FY26 jewellery sales and +39% EBITDA, with Senco EBITDA up 135%, even as gold imports fall ~5% YoY.
Brokerages Antique and JM Financial stay positive on Titan, Kalyan and Senco despite a 15% gold import duty hike, citing resilient demand, lightweight jewellery, exchange-led buying and BIS hallmarking-driven formalisation favouring branded jewellers.