Titan shareholders are reeling after India hiked gold and silver import duties to 15%, triggering a sharp sell-off in jewellery stocks and fears of weaker demand and squeezed margins. But analysts are pointing to history: in 2013, tougher curbs on gold imports—including higher duties and the 80:20 export rule—did not sink organised players. Titan’s diversified sourcing, pricing discipline, and adaptable product mix helped it absorb shocks, and brokerages now expect a manageable impact across segments.
The Centre has raised customs duty on gold and silver imports to 15%, putting pressure on jewellery stocks such as Titan Company and Kalyan Jewellers. The government says the higher levy will curb demand, help narrow the trade deficit, and support the rupee. For consumers, it may translate into higher costs and postponed purchases, impacting sales momentum.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Titan, Kalyan Jewellers and other gold-linked stocks are expected to stay in focus after Prime Minister Narendra Modi urged people to avoid buying gold for weddings for a year. Despite the demand-related message, investors are reacting to strong Q4FY26 earnings from major jewellery companies, keeping sentiment active for the sector Monday.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
