Shares of Thangamayil Jewellery fell 5% on Monday, extending their one-week decline to 32%, after the company said it saw no visible improvement in sales during the first 28 days of Q2 FY27.
The company stated on Friday that the business slowdown was primarily due to a steep increase in import duty from 6% to 15% from May 13, 2026, along with significant depreciation in the rupee. These factors led customers to postpone purchases in anticipation of a future decline in gold prices in U.S. dollar terms.
