In a breather for jewellery stocks, the government lets go off the order to bring the sector under the purview of the Prevention of Money Laundering Act (PMLA).
Every organised jewellery company will report good growth in the current quarter, said Sanjeev Bhatia, CFO, PC Jeweller.
With discretionary portion of consumer sentiment on an uptick, demand reviving and revival of government gold schemes, the prospect for business looks bright, said Prem Hinduja, CEO, Tribhovandas Bhimji Zaveri.
Prem Hinduja, chief executive officer, Tribhovandas Bhimji Zaveri (TBZ) says the studded jewellery segment has seen a robust traction this quarter.
"We have seen an improvement in walk- ins and pent up demand is also helping," Prem Hinduja, MD, Tribhovandas Bhimji Zaveri said.
Sale of diamond jewellery reaps higher margins than gold, but, volume growth in gold jewellery will makeup for margins in absolute terms, says Prem Hinduja, CEO, Tribhovandas Bhimji Zaveri.
Allaying fears about the company‘s performance post HSBC stake sale in last week, Tribhovandas Bhimji Zaveri (TBZ), today said that demand for gold jewellery is expected to pick up from Apr-Jun due to wedding season and festivals.
Shrikant Zaveri, MD of jewellery company Tribhovandas Bhimji Zaveri (TBZ) said volumes have been quite good for the company in the first quarter and going forward, they are looking ahead to Q3 and Q4 for better performances.