Dhanteras 2026: Titan, Kalyan Jewellers, TBZ among jewellery stocks to watch

With Dhanteras fast approaching, select jewellery stocks are likely to remain in focus amid the ongoing consolidation in gold and silver prices and expectations of festive and wedding-season demand.

Deveya Gaglani, Senior Research Analyst (Commodities) at Axis Direct, noted that domestic gold prices have corrected by more than 22 per cent from their 2026 peak. He advised investors to accumulate gold in a staggered and systematic manner, maintaining a long-term bullish outlook.

"We maintain a long-term bullish outlook with a price target of 1,65,000 to 1,80,000 levels by next Dhanteras," Gaglani said.

Echoing a similar view, Ravi Singh, Chief Research Officer at Master Capital Services, said, "The recent correction in precious metals could present an attractive accumulation opportunity for investors looking to build positions at relatively better levels. Rather than investing a lump sum, investors should adopt a staggered buying approach and accumulate on further dips."

Vandana Bharti of SMC Global Securities believes gold looks relatively stronger in the near term. She sees the ongoing consolidation as a potential base for the next upward move.

The price movement in precious metals could also influence investor interest in jewellery companies. Kranthi Bathini, Equity Strategist at WealthMills Securities, said the consolidation in gold and silver prices could create opportunities in jewellery stocks ahead of the festive and wedding season.

He noted that Indian consumers tend to increase gold purchases when prices correct, as lower prices improve affordability. This could support jewellery demand in the coming months.

Among large-cap jewellery stocks, Bathini recommended keeping Titan Company and Kalyan Jewellers on the watchlist.

Titan's jewellery business reported 24 per cent year-on-year (YoY) growth in Q2 FY27. Kalyan Jewellers, meanwhile, reported 27 per cent YoY revenue growth in its India operations, supported by same-store sales growth of around 20 per cent.

In the mid- and small-cap segments, Bathini suggested tracking Tribhovandas Bhimji Zaveri (TBZ), Khazanchi Jewellers and Lalithaa Jewellery Mart.