After a long hiatus, gold is likely to glitter this Akshaya Tritiya with the industry expecting high double-digits volume growth given the positive consumer sentiment and stable prices. Akshaya Tritiya, also known as Akha Teej or Akti is a spring festival that falls on the third lunar day of Vaisakha month. Buying gold on this day is believed to be a sign of good fortune for the buyer. People in states like Tamil Nadu, Kerela, Karnataka, Gujarat celebrate Akshaya Tritiya with much enthusiasm.
Check out discounts and cashback deals offered by some of the top jewelers in the country:
Tanishq: This is known to be one of the most reputed jewelers of the country and is offering up to 25 per cent off on making charges of gold jewelery and value of diamond jewelry on the occasion of Akshaya Tritiya. The offer is valid till today.
Malabar Gold and Diamonds: There's up to 50 per cent off on making charges of gold jewelry from Malabar Gold and Diamonds. One can also avail up to 20 per cent discount on diamond jewelry. The exclusive online offers are valid till May 7 (Tuesday).
PC Jeweller: PC Jeweller is offering up to 30 per cent off on diamond jewelry and making charges of gold and silver jewelry. The scheme is valid till May 12. Customers will get 5 per cent cashback on minimum transaction of Rs 25, 000 and maximum up to Rs 5,000 cashback.
The cashback offer is available at both online and offline stores. For ICICI Bank and RBL Bank, the offer is only available on credit card. For IndusInd Bank, the cashback offer is available on credit and debit card. People paying through PhonePe can get up to Rs 200 cashback.
Tata CLiQ: They are offering 10 per cent instant discount on jewelry and Rs 500 discount on gold coins. Customers interested in investing in gold jewelry will get 5 per cent extra discount by using code JEWEL5. The offer is valid till today May 7.
Bhima Jewelers: On the occasion of Akshaya Tritiya, Bhima Jewelers is offering free gold coin on purchasing gold jewelry worth AED 1,500 (Rs 28,000). Customers who want to purchase diamond jewelry will get two gold coins free on the purchase of AED 1,000 (Rs 18,800). One can get a free diamond ring by shopping diamond jewelry up to AED 10,000 (Rs 1.8 lakh) and above. On purchase of diamond jewelery worth AED 20,000 (Rs 3.7 lakh) and above, the customer will get a pair of diamond earrings or pendant free.
Bhima showroom will remain open till midnight today because of Akshaya Tritiya.
SBI: The state-run bank is offering up to 5 per cent cashback at GRT Jewellers. SBI cardholders can avail the cashback on minimum transaction of Rs 25,000 and above. The bank is also offering a maximum discount of up to Rs 2,500 per card account. The offer is valid from till today.
Kalyan Jeweller: SBI cardholders can avail flat 5% cashback on purchase of jewelry from Kalyan Jewellers.The offer is valid on minimum transaction of Rs 25,000 and above. The maximum cashback limit is Rs 2,500 per card account. All SBI credit cards except corporate cards are eligible under this offer. The offer is valid till May 7.
India Bullion and Jewellers Association National vice -president Saurabh Gadgil said he expects 15-20 percent growth in demand this Aksahya Tritiya. "The sentiment is positive as in most places voting will be over and also the festival falls virtually in the beginning of the month when salaried people have a thicker pockets," he added. Kalyan Jewellers chairman TS Kalyanaraman is expecting a 25 per cent sales growth as a result of their planned efforts during the last two months. The National Stock Exchange (NSE) will conduct an extended live trading session on May 7 in the capital market segment on the occasion of Akshaya Tritiya. The extended live trading session will be held for trading in gold exchange-traded fund (ETF) and sovereign gold bonds only, the NSE said in a circular. The extended trading session will commence at 2.30 pm and close at 7.00 pm. There will be no closing session after the extended market is closed, the exchange said.