Shares of gems & jewellery companies saw heavy buying with PC Jeweller, Senco Gold, Sky Gold and Diamonds, Shanti Gold International, TBZ, Shringar House, Lalithaa Jewellery and Thangamayil Jewellery rallying up to 17% on October 16 amid heavy volume and healthy business growth outlook due to festive demand.

PC Jeweller shares hit 52-week high by climbing 17% and rose the most in five weeks amid three-fold surge in average trading volume.

Backed by healthy consumer demand, PC Jeweller reported strong performance, concluding the second quarter (July to September) of the financial year 2026-27 (Q2FY2027) with a consolidated revenue growth of approximately 28% year-on-year (YoY) reflecting a strong business momentum.

During Q2FY27, the company achieved a Debt Free status after successfully repaying outstanding debt to all banks, with all repayments completed ahead of the scheduled due dates. With no bank debts outstanding, the company will be saving on the interest cost in the future, which will positively impact its bottomline and strengthen its balance sheet, PC Jeweller said in its Q2 business update on October 7, 2026.

The company received remittances of approximately Rs 142 crore during the quarter from its outstanding export debtors.

With festive season approaching, the stocks are surging expecting heavy jewellery demand.

On October 16, stocks like Thangamayil Jewellery, Sky Gold, Senco Gold were trading 8%, 5% and 6% higher, respectively. Meanwhile, shares of TBZ, Shringar House, Shanti Gold were trading 5%, 4% and 8% higher, respectively.

"In the jewellery sector, demand remained healthy in Q2FY27 despite elevated gold price (up 28% YoY) supported by a festive demand, premiumisation and continued market share gains by organised players. Titan reported 21% YoY jewellery growth, with studded jewellery growing in the early thirties and plain gold jewellery growing 20% YoY, while Kalyan delivered 27% YoY growth in India, supported by 20% SSSG. Towards the end of the quarter, demand witnessed some softening, owing to the shift in the festive calendar to Q3FY27. Consumers continued to adapt to higher gold price, with higher average ticket sizes supported value growth. Management commentary remains positive on demand momentum in the near term," said Choice Broking.