RJ Market Watch
Titan, Rajesh Exports retain the glitter among jewellery stocks
![](https://retailjewellerindia.com/wp-content/uploads/2019/06/Quote-Rajesh-Khosla-former-MD-MMTC-Pamp-24-06-Revised.jpg)
Among listed jewellery and ornament manufacturing companies, TitanNSE 0.70 % stands out as a shining star, followed at a distant second by Rajesh ExportsNSE -0.08 % and Vaibhav GlobalNSE 0.74 % in the third place. The companies have been selected basis their market capitalization.
The underperformers on the list, whose stock prices have fallen 12-47 per cent in the past year, are generally ones that have high debt (unaudited figures for FY19), which was used for unbridled expansion in previous years, though there may be corporate governance issues which have also contributed in large measure to their fall.
Among the big underperformers are PC Jeweller and TBZ, whose stocks have corrected by 47 percent and 45 per cent in the year through June 19.
Titan has benefited in terms of sales and profit, especially post the GST era, because consumers have maximum faith in their quality of merchandise, said industry veteran Rajesh Khosla, former MD of India’s largest gold refiner, MMTC-Pamp. “Others expanded too much too fast in the past years and are now facing difficulty due to high overheads and high debt burden,” Khosla added.
Courtesy: EconomicTimes
Image Courtesy: ECONOMICTIMES
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