BlueStone Jewellery shares jump 3% after strong growth in festive season business; stock up 48% YTD

BlueStone Jewellery shares, a digital-first jewellery retailer, have risen around 3% during the trading session on Monday, November 9, after the company disclosed a strong year-on-year growth in its festive season business in the third quarter of FY27.

NSE data showed that BlueStone Jewellery shares have risen nearly 3% to hit an intraday high of ₹735 apiece on Monday's market, in comparison to ₹714.05 apiece at the previous equity market close.

After touching the high, the stock retracted its intraday gains, trading 0.68% lower at ₹709.20 apiece as of the morning market hours.

In its latest Q3 provisional business update released on Monday morning before market hours, BlueStone Jewellery said that the company recorded a 45% year-on-year (YoY) business growth quarter-to-date, i.e., from October 1 to November 8, which includes the festive period.

Jewellery companies like BlueStone have historically gained during the third quarter of a particular financial year due to the elevated demand from buyers in the market to purchase gold, silver and other precious metals or ornaments during the special festive season occasions.

Hence, due to festivals like Diwali, Durga Puja, and Dhanteras, the jewellery makers witness strong demand and forward momentum which emerges from the high buyer interest in the market.

This comes at a time when the gold prices in India have remained trading range-bound yet highly volatile in the market. The official India Bullion and Jewellers Association (IBJA) data showed that the 24-karat 999-purity gold rates in India have lost 4.5% of their value between October 1 and November 8, 2026.

“This growth was largely buyer transaction driven with average realisations being the same as last year (comparable period),” BlueStone informed the stock exchanges.

On the demand front, BlueStone Jewellery in its business update said that the secular trends towards jewellery for the wardrobe segment remained intact and the entry-level price point products have been witnessing improved momentum in the period under review.

The company’s management attributed the business growth during the festive season to the strength of its design-led proposition and its ability to offer differentiated jewellery to customers across a wide range of price points.

“Our business grew by 45% over the corresponding period last year. It’s exciting to see that growth was fundamentally buyer transaction-led,” said Gaurav Singh Kushwaha, founder and CEO of BlueStone Jewellery.

How were the Q2 earnings?

In the Q2 earnings, BlueStone Jewellery posted its fourth consecutive quarter of profit at ₹1.76 crore, compared with a net loss of ₹49.10 crore in the corresponding quarter of the previous year, as per the standalone financial statements.

On a consolidated basis, the company recorded a net loss of ₹49 lakh in the September quarter, compared to a ₹28 lakh net profit in the same quarter of the previous financial year, as per the exchange filing.

Despite the muted profit figures, the standalone revenue from core operations surged 38% YoY to ₹738.08 crore in Q2 FY27, from ₹513.09 crore levels a year earlier.

BlueStone’s operating profit, or pre-IndAS earnings before interest, tax, depreciation, and amortisation (EBITDA), expanded 234% YoY to ₹53.3 crore in the period under review, as per the official statement.

Data showed that the company’s pre-IndAS EBITDA margins improved by 413 basis points YoY to 7.3% levels in the September quarter, from 3.17% levels in the same quarter a year earlier.

The board also approved a ₹300 crore fundraising proposal to raise money from the market via the issuance of non-convertible debentures on a private placement basis in one or more tranches.

The company will use the proceeds raised from the move to refinance a portion of its existing debt and meet business growth requirements.

Stock up 48% YTD

NSE data showed that BlueStone Jewellery shares have delivered more than 48% returns to investors year-to-date (YTD), and more than 16% returns on their investments in the last one-year period.

However, in the last one-month, the company’s stock has lost 13%, but was trading 6.7% higher in the past five sessions, according to the exchange data.

Shares of BlueStone Jewellery surged to their 52-week high of ₹969.90 apiece on September 23, 2026, and the 52-week low was at ₹399.80 apiece on February 17, 2026.

The company’s market capitalisation (m-cap) was at over ₹10,915 crore as of the stock market close on Sunday, November 8.