India’s 5 Jewellery stocks are down to 60% after a 52-week high

Despite strong demand for gold and diamonds, macroeconomic uncertainties, rising interest rates, and profit-booking by investors, several companies have witnessed steep declines, raising concerns about whether this is a temporary setback or a deeper industry-wide trend. From their recent top of 52-week high, these stocks have fallen up to 60%.

The top 5 jewellery stocks that have fallen up to 60% from their 52-week highs are :

1. Senco Gold : Senco Gold is the largest organized pan-India jewellery retailer in Eastern India based on the number of stores. In the last year, shares of Senco Gold have fallen 58% from their 1-year high.

2. Motisons Jewellers: Motisons Jewellers sells gold, diamond and Kundan jewellery as well as other jewellery products. The company also sells pearls, silver, platinum and other metals. In the last year, shares of Motisons Jewellers have fallen 40% from their 1 year high.

3. Kalyan Jewellers: Kalyan Jewellers designs manufactures and sells a range of gold, studded and other jewellery products across various price points. In the last year, shares of Kalyan Jewellers have fallen 36% from their 1 year high.

4. PN Gadgil Jewellers: P. N. Gadgil Jewellers is in the retail business of gold, silver, and diamond jewellery.

The company is a part of the PNG group which is an established player in Maharashtra. In the last year, shares of the company have fallen 32% from their 1-year high.

5. Goldiam International: Goldiam International is engaged in manufacturing and exporting gold and diamond jewellery to global retailers, departmental stores and wholesalers. Goldiam has been transitioning from a pure natural diamond in-store jewellery company to a major supplier of LGD jewellery, with an omnichannel sales strategy. In the last year, shares of Goldiam International have fallen 31% from their 1-year high.The sharp correction in jewellery stocks reflects a mix of macroeconomic pressures, industry-specific challenges, and shifting investor sentiment.

While concerns around profitability, demand fluctuations, and global economic conditions have weighed on valuations, the long-term fundamentals of the jewellery sector remain intact.