Thangamayil Jewellery Ltd. Share Price

PRE MARKET: Crude +5%, US Markets Down! क्या Nifty 24,000..?

भारतीय बाजार आज फिर एक critical zone में प्रवेश कर रहा है। Crude Oil में करीब 5% की तेज़ी, US markets में गिरावट और geopolitical tensions ने global setup को कमजोर किया है। लेकिन अच्छी बात यह है कि Nifty अभी भी 24,000 के आसपास टिकने की कोशिश कर रहा है। आज के दो सबसे महत्वपूर्ण levels: Nifty: 24,000 Bank Nifty: 57,500 दोनों levels आज के लिए Make-or-Break Zones बन चुके हैं। ##Nifty 24,000 — सबसे बड़ा Support पिछले session में Nifty ने intraday 23,952 तक गिरावट देखी, लेकिन 24,000 के आसपास buying आने से index ने level बचाया और 24,055.80 पर बंद हुआ। अगर 24,000 बचता है: Support → Stabilisation → Recovery Attempt लेकिन अगर 24,000 decisively टूटता है: Selling Pressure → 23,900 → 23,800 ##Bank Nifty: 57,500 का Test Banking stocks पर पिछले session में pressure देखने को मिला और Bank Nifty करीब 1% गिरा। 57,500 = Make-or-Break Level अगर Bank Nifty इस level को बचाता है, तो banking stocks में recovery देखने को मिल सकती है। लेकिन इसके नीचे sustained weakness आई तो broader market पर भी pressure बढ़ सकता है। ----->Crude Oil में फिर 5% की तेजी Crude Oil आज का सबसे बड़ा macro risk बना हुआ है ------>US Markets भी कमजोर US markets में भी selling pressure देखने को मिला। • Dow Jones: करीब -0.8% • S&P 500: करीब -0.7% • Nasdaq: करीब -1.0% Oil prices और rising bond yields ने US equities पर दबाव बनाया। $$Gold में लगातार गिरावट Gold भी correction mode में है। FOCUS STOCKS:

Jewellery Stocks Slip After PM Urges Gold Purchase Caution

Lalithaa Jewellery Mart IPO

Does stock fall in these catagories?: Undervalued Opportunity: Compared to listed peers like Kalyan Jewellers 43x PE and Thangamayil, Lalithaa is priced at a significantly lower forward P/E, suggesting attractive entry valuations. Strong Growth CAGR: The company has shown a solid 22% CAGR growth over the last two years, proving its ability to scale revenue alongside store expansion. Operational Efficiency: The company consistently beats sector averages in net profit margins and operating metrics, showcasing superior management of store-level profitability. Capacity Expansion: Aggressive plans to utilize IPO proceeds for opening new showrooms across Tier 1, 2, and 3 cities provide a clear runway for future revenue growth. Key Risks Discussed: Gold Price Volatility: A sharp rise in gold prices could negatively impact consumer demand and hit revenue growth. Stagnant Large-Format Performance: Revenue from large-format stores has seen a decrease and has struggled to return to 2024 levels, indicating potential efficiency issues in their biggest outlets. Valuation Discrepancies: The jewellery sector shows an inconsistent valuation pattern PE ratios ranging from 6x to 43x for similar businesses, making it difficult to predict how the market will eventually price this stock. Competition and Execution: The company operates in a crowded market and success depends heavily on the successful execution of its planned store expansion.

Gold Prices Are Changing the Jewellery Supply Chain.

High gold prices are usually treated as a problem for jewellery demand. But the Q1 numbers from

Titan Says High Gold Prices Make Customers Hesitate; PM Appeal Hits Demand

Jewellery stocks have rallied recently

Jewellery stocks have rallied recently mainly because the market expects higher earnings, not just higher gold prices. Key reasons: Strong Q1 FY27 business updates: Companies like Titan, Kalyan, Senco, and PN Gadgil reported strong sales growth despite record gold prices, beating market expectations. The Economic Times +2 The Economic Times +2 Organized players gaining market share: Consumers are increasingly buying from branded jewellers due to trust, hallmarking, exchange schemes, and financing options. Business Standard +1 High gold prices boosted revenue: Even with modest volume growth, higher gold prices increased the value of sales, supporting revenue and profits. The Economic Times +1 Store expansion & same-store sales: Many chains are opening new stores while existing stores continue to post healthy growth, indicating strong demand. The Economic Times +1 Positive investor sentiment: Strong earnings led investors to re-rate the sector, causing broad buying across jewellery stocks. Angel One +1 Risk: The rally may not continue if demand slows or gold prices correct. Recent weak guidance from Thangamayil Jewellery shows investors are becoming more selective.