Titan, PC Jeweller, Manappuram Finance, Kalyan Jewellers shares fall up to 7% post PM Modi's appeal

Jewellery stocks such as Titan Company, Thangamayil Jewellery Ltd, PC Jeweller, Manappuram Finance and Kalyan Jewellers slipped up to 7% in the afternoon session on Tuesday after Prime Minister Narendra Modi urged people to avoid leisure trips abroad, not hold marriages overseas and refrain from buying gold unless necessary. PM Modi's appeal to the people comes after the Indian economy posted a strong 7.8% GDP growth.

Titan Company shares slipped 2% to Rs 5012.95 against the previous close of Rs 5115.80. Market cap of the leading gems and jewellery firm slipped to Rs 4.46 lakh crore. Shares of another jewellery firm Thangamayil Jewellery fell 2.33% to Rs 5285. Market cap of the firm declined to Rs 16,479 crore.

PC Jeweller shares too crashed 6% to Rs 10.23 in the current session against the previous close of Rs 11.01. Market cap of the firm fell to Rs 10,079 crore.

Manappuram Finance stock too slipped 2% to Rs 335.70. Market cap of the gold NBFC fell to Rs 31,660 crore.

Kalyan Jewellers stock also fell 7% to Rs 571.95 against the previous close of Rs 614.40. Market cap of the firm slipped to Rs 59,104 crore.

PM Modi's appeal not to buy gold unless necessary dampened sentiment around the gold sector stocks.

Speaking from Bishkek, where he is attending the Shanghai Cooperation Organisation summit as part of his visit to Uzbekistan and Kyrgyzstan, Modi linked the appeal to self-reliance and greater use of swadeshi products.

#WATCH | Prime Minister Narendra Modi posts on the social media platform, Instagram; PM says "... We must embrace the mantra of 'Swadeshi' and 'Vocal for Local.' We should avoid traveling abroad merely for leisure or hosting weddings in foreign lands; instead, we should live by… https://t.co/5ad5RKJiG5 pic.twitter.com/PVN04APP3e

— ANI (@ANI) September 1, 2026