Motilal Oswal bullish on jewellery stocks; picks Titan, Kalyan Jewellers as top bets, sees up to 34% upside
New Delhi, Aug. 12 -- Domestic brokerage firm Motilal Oswal, in its latest report, said India's organized jewelry retail sector is set to accelerate further in the coming years, supported by two structural tailwinds - formalization and increasing premiumization.
The brokerage views Titan and Kalyan Jewelers as best positioned to benefit from these trends because of their scale, brand strength, store expansion, and execution.
The sector's long-term growth thesis rests on two powerful structural tailwinds - formalization and premiumization. The organized segment's share of India's approximately Rs.8.5 lakh crore jewelry market has nearly doubled to 40-45% in FY26 from 20-25% in FY19.
Leading retailers are expanding their customer base an...
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