Thangamayil Jewellery shares jump 28% in just 3 sessions. What’s behind the sharp surge?

Shares of Tamil Nadu–based Thangamayil Jewellery rose as much as 8% to an intraday high of Rs 4,138 on Thursday, January 8, extending their rally to a third consecutive session. The stock has gained nearly 30% over the same period, reflecting sustained buying interest.

The sharp gains appear to be driven by optimism stemming from strong Q3 business updates reported by peers, raising expectations of a similar performance by Thangamayil. For instance, Titan Company’s overall consumer businesses posted around 40% year-on-year (YoY) growth, driven by strong festive demand and continued premiumisation trends.

Titan’s jewellery division delivered a standout performance, recording approximately 41% YoY growth in Q3 FY26, supported by vibrant festive and wedding demand. Higher average selling prices, aided by elevated gold prices, compensated for largely flat buyer growth. Tanishq’s gold exchange offers helped sustain demand beyond the festive season. Gold coin sale

Senco Gold’s sales and revenue increased 51% in the third quarter from the previous year, in the backdrop of 6.5% and 28% growth in the previous two quarters, respectively. In the first nine months of FY26, the same metric grew by 31% from the same period last year, the company said in a regulatory filing on January 6.

Senco’s trailing twelve month revenue has already reached Rs 8000 crore, reflecting consistent on-year growth, loyal customer base and brand positioning. The Q3 on-year growth includes retail business growth of 49% and same store sales growth of 39%.

On the other hand, Kalyan Jewellers reported a 42% year-on-year revenue growth in Q3 FY2026, primarily driven by robust festive demand. Revenue grew about 42% compared to Q3 FY2025, supported by strong demand during and after the Diwali festival, despite fluctuations in gold prices. Both plain gold and studded jewellery segments saw broad-based growth. Same-store sales increased by approximately 27%.

Thangamayil Q2 snapshotThe company reported a strong turnaround in its September quarter results and a record-breaking performance in October. The jeweller posted a net profit of Rs 58.5 crore for the quarter ended September, compared to a loss of Rs 17.4 crore in the same period last year.

Revenue from operations jumped 45% year-on-year to Rs 1,711 crore from Rs 1,181 crore, driven by robust festive demand and strong retail traction. The company’s operating performance also improved sharply, with EBITDA rising to Rs 106.2 crore against an EBITDA loss of Rs 7.5 crore a year ago. EBITDA margin stood at 6.2%, marking a strong recovery from last year’s negative base.

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