Brokerages back Titan, Kalyan, Senco despite gold duty hike to 15%
A gold import duty hike to 15% pressures India's jewellery sector, but Antique and JM Financial stay positive on organised players, citing resilient demand, lightweight jewellery, exchange-led buying and stronger compliance. Titan FY26 jewellery sales seen +45%, Senco EBITDA +135% in 9M FY26.
A gold import duty hike to 15% pressures India's jewellery sector, but brokerages Antique and JM Financial stay positive on organised players Titan, Kalyan and Senco, citing resilient demand, lightweight jewellery, exchange-led buying and stronger compliance systems.
Why this matters
Reinforces a consistent brokerage view that the 15% gold duty hike favours organised jewellers like Titan, Kalyan and Senco, echoing prior signals framing duty-led compliance gains as a share-shift catalyst.
Retail-company signals accelerating, up 518400% QoQ.