Brokerages back Titan, Kalyan, Senco despite gold duty hike to 15%
India's gold import duty hike to 15% pressures the jewellery sector, but Antique and JM Financial stay positive on Titan, Kalyan and Senco. They cite resilient demand, lightweight jewellery, exchange-led buying (~50% at Titan) and rising formalisation via BIS hallmarking. Titan jewellery sales are seen up 45% in FY26.
India's gold import duty hike to 15% pressures jewellery sector, but brokerages Antique and JM Financial stay positive on Titan, Kalyan and Senco, citing resilient demand, lightweight jewellery, exchange-led buying and rising formalisation via BIS hallmarking.
Why this matters
Reinforces repeated brokerage backing of Titan, Kalyan and Senco through the 15% gold duty hike, signaling confidence in demand resilience and formalisation despite cost pressures.
Retail-company signals accelerating, up +488600% QoQ.