With Dhanteras 2026 on the horizon, investor attention is turning towards select jewellery companies, as experts anticipate a surge in demand fueled by recent gold price adjustments. Domestic gold prices have seen a notable correction of over 22% from their 2026 peak, a factor expected to boost consumer purchasing during the upcoming festive and wedding seasons.
Gold Price Correction Sparks Optimism
Deveya Gaglani, Senior Research Analyst (Commodities) at Axis Direct, highlighted the substantial gold price correction, advising a staggered accumulation strategy for investors, maintaining a long-term bullish outlook for the precious metal. Gaglani projects a price target of 1,65,000 to 1,80,000 levels by the next Dhanteras.
Vandana Bharti of SMC Global Securities echoed this sentiment, noting gold's relative strength in the near term and viewing the current consolidation as a foundation for future upward movement. This positive outlook for gold prices naturally translates into potential opportunities for jewellery retailers.
Jewellery Stocks in Focus
Kranthi Bathini, Equity Strategist at WealthMills Securities, emphasized that the consolidation in gold and silver prices typically encourages Indian consumers to increase their gold purchases due to improved affordability. This trend is expected to provide strong support for jewellery demand in the coming months.
Large-Cap Recommendations
- Titan Company: A prominent player, Titan's jewellery division reported robust 24% year-on-year (YoY) growth in Q2 FY27, showcasing strong operational performance.
- Kalyan Jewellers: This firm recorded an impressive 27% YoY revenue growth in its India operations, propelled by approximately 20% same-store sales growth.
Mid and Small-Cap Stocks to Track
For investors exploring opportunities beyond large-caps, Bathini suggested monitoring:
- Tribhovandas Bhimji Zaveri (TBZ)
- Khazanchi Jewellers
- Lalithaa Jewellery Mart
The confluence of corrected gold prices and strong seasonal demand positions these jewellery stocks as key ones to watch as Dhanteras 2026 approaches.