Shares of major Indian jewellery companies, including Kalyan Jewellers, PC Jeweller, and Thangamayil Jewellery, experienced significant declines of up to 8% in early trading today. The market reaction comes after the Bureau of Indian Standards (BIS) announced a substantial increase in the gold hallmarking fee.
The BIS has raised the gold hallmarking fee by 67%, moving from Rs 45 to Rs 75 per gold article. These new rates are effective from September 14, 2026. Additionally, a minimum charge of Rs 200 has been set for gold consignments.
Impact on Key Jewellery Retailers
- PC Jeweller saw its shares slip by 8% to Rs 11.87, reducing its market capitalization.
- Kalyan Jewellers shares declined by 1.67% to Rs 592.60.
- Senco Gold recorded a 3% drop in its share price, falling to Rs 325.85.
- Thangamayil Jewellery shares decreased by 2.8% to Rs 4776.
- Goldiam International also saw its shares fall by up to 2.29% to Rs 316.80.
In contrast, Titan Company shares traded on a flat note, despite being a prominent player in the jewellery sector. The market capitalization of these firms also saw corresponding reductions following the share price movements.
Silver Hallmarking Fees Unchanged
While gold hallmarking fees have been significantly revised, the fees for silver articles remain unchanged. The fee for silver hallmarking stands at Rs 35 per article, with a minimum fee of Rs 150 applicable per silver consignment. Assaying and Hallmarking Centres (AHCs) will continue to pay a fee of Rs 3.50 per silver article to the BIS, with a minimum of Rs 15 per consignment.