Vaibhav Global, Titan Company, Tribhovandas Bhimji Zaveri: Jewellery stocks rally amid surge in gold prices; Muthoot Finance shares advance 5%

By Upstox News Desk

3 min read | Updated on March 17, 2025, 12:05 IST

SUMMARY

Gold prices rally: According to news reports, gold prices firmed on Monday after touching a historic milestone last week, as geopolitical tensions, jitters about tariffs escalating trade frictions, and increased hopes of interest rate cuts from the US Federal Reserve continued to fuel safe-haven demand.

Muthoot Finance shares were trading 4.7% higher at ₹2,300.60 apiece on the BSE. | Image: Shutterstock

Gold prices rally: Shares of jewellery companies such as Titan Company, Vaibhav Global, and Kalyan Jewellers India, among others, were trading in the green on Monday, March 17, amid a rise in gold prices.

The prices of the yellow metal touched new peaks, both in the domestic and international markets.

According to a Reuters report, gold prices firmed on Monday after touching a historic milestone last week, as geopolitical tensions, jitters about tariffs escalating trade frictions, and increased hopes of interest rate cuts from the US Federal Reserve continued to fuel safe-haven demand.

Spot gold rose 0.1% to $2,986.53 an ounce at 03:07 GMT. Bullion rose above the $3,000/oz milestone to notch a record high at $3,004.86 on Friday.

In the domestic market, gold prices climbed by ₹600 to revisit the all-time high of ₹89,450 per 10 grams in the national capital on Thursday, March 13, amid a firm global trend, according to local marketmen.

The precious metal of 99.9% purity had settled at ₹88,850 per 10 grams on Wednesday.

"Gold prices surged to a new record high in the domestic market, while in the international market, spot gold rallied to near-record highs buoyed by safe-haven demand and cooler-than-expected US consumer inflation data, which supported the case for further Federal Reserve monetary easing this year," as per an analyst.

How jewellery stocks are faring

Reacting to the surge in gold prices, shares of Titan Company were trading 0.32% higher at ₹3,019 apiece on the BSE, while Vaibhav Global was up nearly 1% at ₹215.85.

Thangamayil Jewellery was trading 0.11% higher at ₹1,768.90, while Tribhovandas Bhimji Zaveri shares were up 2.34% at ₹165.95 apiece on the BSE.

PC Jeweller Ltd was up 0.07% at ₹13.94, while Kalyan Jewellers India was trading over 1% higher at ₹435.60 on the BSE.

Besides, gold financiers such as Muthoot Finance and Manappuram Finance, too, were trading with decent gains.

ALSO READ | Paradeep Parivahan, Divine Hira Jewellers IPOs to open on March 17; check price band, lot size and key details

Muthoot Finance shares were trading 4.7% higher at ₹2,300.60 apiece on the BSE. On March 14, 2025, the company said it had crossed the landmark milestone of ₹1 lakh crore gold loan assets under management (AUM) on March 13, 2025.

Manappuram Finance shares opened higher but slipped into the red later.

India’s gold demand in 2025 is projected to remain robust, ranging between 700 and 800 tonnes despite a 31% increase value-wise in 2024, Sachin Jain, Regional CEO—India, World Gold Council, said in February 2025.

This projection follows a strong performance in 2024, when total gold demand in India stood at 802.8 tonnes, reflecting a 5% increase from 761 tonnes in 2023.

About The Author

Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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Vaibhav Global, Titan Company, Tribhovandas Bhimji Zaveri: Jewellery stocks rally amid surge in gold prices; Muthoot Finance shares advance 5%

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