Jewellery stocks up on strong Q2, seasonal sales

Huge gains also seen with compulsory hallmarking of 14 carat, 18 carat and 22 carat gold jewellery

Jewellery stocks surged on Monday on strong Q2 numbers by key player Titan Company, good seasonal sales for industry as a whole, and expectations of huge gains for organised sector players following the compulsory hallmarking of gold jewellery of 14 carat, 18 carat and 22 carat purity.

Food and Consumer Affairs Minister Ram Vilas Paswan, on Friday, had clarified that the government would make hallmarking of gold jewellery compulsory from January 1, 2018 to bring in uniformity in the country's jewellery sector. Currently, jewellers sell gold ornaments with different purity level to suit customers' needs and accommodate their financial capability. Thus,