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.

Upstox Securities Pvt. Ltd.: SEBI Registration No. INZ000315837 | NSE TM Code: 13942 | BSE TM Code: 6155 | CDSL Reg No.: IN-DP-761-2024 | CIN: U65100DL2021PTC376860 | Compliance Officer: Mr. Kapil Jaikalyani. Tel No.: (022) 24229920. Email ID: compliance@upstox.com | Registered Address: 809, New Delhi House, Barakhamba Road, Connaught Place, New Delhi - 110001 | RKSV Commodities India Pvt. Ltd.: SEBI Registration No.: INZ000015837 | MCX TM Code: 46510 | CIN: U74900DL2009PTC189166 | Compliance Officer: Mr. Amit Lalan. Tel No.: (022) 24229920. Email ID: compliance@rksv.in | Registered Address: 807, New Delhi House, Barakhamba Road, Connaught Place, New Delhi - 110001. Correspondence Address: 30th Floor, Sunshine Tower, Senapati Bapat Marg, Dadar (West), Mumbai - 400013. | For any complaints, email at complaints@upstox.com and complaints.mcx@upstox.com.

Procedure to file a complaint on SEBI SCORES: Register on the SCORES portal. Mandatory details for filing complaints on SCORES include: Name, PAN, Address, Mobile Number, and E-mail ID. Benefits include effective communication and speedy redressal of grievances. Please ensure you carefully read the Risk Disclosure Document as prescribed by SEBI, along with our Terms of Use and Privacy Policy.

Upstox Securities Private Limited is a wholly owned subsidiary of RKSV Securities India Private Limited and RKSV Commodities India Private Limited is an associate of RKSV Securities India Private Limited.

Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing.
*Brokerage will not exceed the SEBI prescribed limit.

Risk disclosures on derivatives -

9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
On an average, loss makers registered net trading loss close to ₹ 50,000
Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

Mutual Funds: Top rated funds do not constitute any advice. Research data is powered by Morningstar. Please read the offer documents carefully before investing. Upstox shall not accept any liability arising out of your investments.
These are not Exchange traded products, and the Member is just acting as distributor. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism.

Insurance: RKSV SECURITIES INDIA PRIVATE LIMITED ("Upstox") with registered office at 807, New Delhi House Barakhamba Road Connaught Place, New Delhi, Delhi-110001, Delhi (CIN: U74900DL2009PTC189166) is a Corporate Agent registered with Insurance Regulatory and Development Authority of India (IRDAI) (Category: Composite, IRDAI Regn No.-: CA0918 valid till 05-03-2027). Insurance is underwritten by the respective insurance companies and not by Upstox. Purchase by Upstox’s customer of any insurance products is purely voluntary, and is not linked to availment of any other facility from Upstox. For more details on risk factors and terms and conditions of insurance products, please read the sales brochure of insurance products carefully before concluding a sale. Tax benefits are subject to amendments in tax laws from time to time.

Email ID or any other mode to reach out:

Email ID: insurancesupport@rksv.in

Bima Bharosa Portal: https://bimabharosa.irdai.gov.in/

IRDAI: https://irdai.gov.in/

Insurance Ombudsman: https://www.cioins.co.in/

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI is not involved in activities like selling insurance policies, announcing bonuses, or investing premiums. Public receiving such phone calls are requested to lodge a police complaint.

Attention Investors: As per NSE circular dated July 6, 2022, BSE circular dated July 6, 2022, MCX circular dated July 11, 2022 investors are cautioned to abstain them from dealing in any schemes of unauthorised collective investments/portfolio management, indicative/ guaranteed/fixed returns / payments etc. Investors are further cautioned to avoid practices like:
a) Sharing i) trading credentials – login id & passwords including OTP’s., ii) trading strategies, iii) position details.
b) Trading in leveraged products /derivatives like Options without proper understanding, which could lead to losses.
c) Writing/ selling options or trading in option strategies based on tips, without basic knowledge & understanding of the product and its risks
d) Dealing in unsolicited tips through like Whatsapp, Telegram, Instagram, YouTube, Facebook, SMS, calls, etc.
e) Trading / Trading in “Options” based on recommendations from unauthorised / unregistered investment advisors and influencers.

Kindly, read the Advisory Guidelines For Investors as prescribed by the Exchange with reference to their circular dated 27th August, 2021 regarding investor awareness and safeguarding client’s assets : Advisory Guidelines For Investors

Kindly, read the advisory as prescribed by the Exchange with reference to their circular dated January 14, 2022 regarding Updation of mandatory KYC fields by March 31, 2022: KYC Updation

Attention Investors: Prevent unauthorised transactions in your Demat account by updating your mobile number with your depository participant. Receive alerts on your registered mobile number for debit and other important transactions in your Demat account directly from CDSL on the same day. Prevent unauthorised transactions in your Trading account by updating your mobile numbers/email addresses with your stock brokers. Receive information on your transactions directly from the Exchange on your mobile/email at the end of the day. Issued in the interest of investors. KYC is a one-time exercise while dealing in securities markets - once KYC is done through a SEBI-registered intermediary (broker, DP, Mutual Fund, etc.), you need not undergo the same process again when you approach another intermediary. As a business, we don’t give stock tips and have not authorised anyone to trade on behalf of others. If you find anyone claiming to be part of Upstox or RKSV and offering such services, please send us an email at complaints@upstox.com and complaints.mcx@upstox.com.

No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor’s account. Stockbrokers can accept securities as margin from their clients only by way of a pledge in the depository system w.e.f. 1st September 2020.
Update your email ID and mobile number with your stockbroker/depository participant and receive an OTP directly from the depository on your registered email ID and/or mobile number to create a pledge.
Check your securities/mutual funds/bonds in the Consolidated Account Statement (CAS) issued by NSDL/CDSL every month.

Attention Investors: SEBI has established an Online Dispute Resolution Portal (ODR Portal) for resolving disputes in the Indian Securities Market. This circular streamlines the existing dispute resolution mechanism, offering online conciliation and arbitration, benefiting investors and listed companies. https://www.sebi.gov.in/legal/circulars/jul-2023/online-resolution-of-disputes-in-the-indian-securities-market_74794.html ODR portal for Investors - https://smartodr.in/login

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

How jewellery stocks are faring

Vodafone Idea to Ola Electric: 5 stocks that are down over 60% from 52-week highs

Upper circuit and lower circuit stocks on March 17; check details

Inventurus Knowledge Solutions shares tank over 12% as its lock-in period ends; check details

Mobikwik shares plunge 15%, hits fresh 52-week low; here's why

Trade setup: Will NIFTY50 hold strong at 23,000?

Trade setup: NIFTY50 under pressure!