Jewellery stocks slip as BIS hikes gold hallmarking fee

Shares of jewellery companies tumbled on September 16 after the Bureau of Indian Standards (BIS) raised hallmarking charges for gold articles. Kalyan Jewellers and PC Jeweller fell around 4-5 percent, while newly listed Lalithaa Jewellery Mart hit the 5 percent lower circuit. BIS has revised the fee for gold hallmarking to Rs 75 per article from the earlier Rs 45, a nearly 67 percent jump. The charge for silver remains unchanged at Rs 35. The new rates, notified through the BIS (Hallmarking) Amendment Regulations, 2026 dated September 14, took effect immediately. Jewellers must now pay a minimum of Rs 200 per consignment for gold and Rs 150 for silver. Hallmarking certifies the purity of precious metals with the BIS logo, karat or fineness mark, and a unique six-digit HUID number. The hike comes just as the festive buying season begins, raising concerns about higher compliance costs for organised jewellers.