India’s jewellery stocks are heading into the festive season with a mixed scorecard. Stronger-than-expected September-quarter business updates have supported sentiment towards the sector, but rising oil prices, inflation, bond yields and renewed expectations of higher interest rates amid the West Asia crisis have added to the challenges facing the industry.
Much like the first quarter, jewellery companies entered Q2FY27 navigating these four pressures just as the festive season was expected to boost demand. The result has been a divergent performance across listed players, with some stocks rallying sharply while others have slipped despite resilient business updates.
