Thangamayil Jewellery posted weak results for Q3FY22 as growth slowed down and profitability got dented. At current market price, the stock is trading at is close to its long-term historical average. And we think long-term investors could add the stock to their portfolio. Here’s why
Hallmarking, a quality certification, has been made mandatory with effect from June 23, 2021 for 14, 18, and 22 carat gold jewellery and artifacts in 256 districts of the country, where there is at least one Assaying and Hallmarking Centre (AHC).
Hallmarking is most welcome but HUID in any form is not acceptable by industry, said the National Task Force on Hallmarking in a statement.
The director of the All India Gem and Jewellery Domestic Council says it will take 18 months to hallmark the current stock of gold jewellery in the country
The GJC in its statement noted the BIS website and FAQs fail to capture many key points on hallmarking, which were discussed during a meeting on June 15
Kalyan Jewellers says customers prefer its standalone showrooms over small shops because of better safety protocols during the pandemic and the quality of its products. The company's executive director Ramesh Kalyanaraman says its 14 new stores being launched will break even from day-1 as major costs like advertising are borne by existing stores.
Sale of only hallmarked gold and silver jewellery will be allowed in India from June 2021. Find out more.
The Centre, in November last year, had announced that hallmarking of gold jewellery and artefacts would be made mandatory across the country from January 15, 2021.
The new regime intends to ensure quality
It will assure quality, prevent counterfeits, boost exports and improve India's credibility in overseas markets
"Presently the hallmarking of gold and silver jewellery is voluntary," Minister of State for Consumer Affairs C R Chaudhary said during Question Hour, amid vociferous Opposition protest.