Thangamayil Jewellery remains Equirus Securities’ top pick in retail sector

Thangamayil Jewellery Ltd.’s share price hit the 20% upper circuit as Equirus Securities reiterated its long position on the counter because of its potential to post robust growth moving forward. The brokerage has a target price of Rs 2,614, which implies an upside of 27%.

Equirus Securities also kept Thangamayil Jewellery as its top pick in the retail sector. It estimates that the jeweller will deliver revenue, EBITDA, and net profit CAGR of 24%, 39%, and 58% respectively, over the financial year 2025 and 2027. In the present market environment, the stock delivers an attractive entry point.

Thangamayil Jewellery’s flagship store in T-Nagar, Chennai, is believed to drive significantly higher revenue density compared to its other 61-store network. The T-Nagar store marks the first of 5–7 planned outlets in Chennai, and two more stores are about to open soon.