Desk note · industry · Retail / consumption
Business updates filed around 18 October 2026 showed leading jewellery chains posting roughly 22% to 28% revenue growth in the July–September quarter, with Kalyan Jewellers citing about 27% growth in India and strong same-store sales despite Navratri moving into the December quarter this year.
On 18 October 2026, exchange filings and business updates from major jewellery retailers showed double-digit revenue growth in the September quarter of FY27. Kalyan Jewellers said India revenue rose about 27% year on year, helped by roughly 20% same-store sales growth; its international business grew 18% and lifestyle brand Candere rose 64%. Titan, P N Gadgil Jewellers, and PC Jeweller reported similar 22% to 28% ranges in their updates. Navratri and related buying traditionally land in the September quarter, but this year much of the festival calendar shifts toward December. Executives still described the quarter as strong, pointing to wedding bookings, studded jewellery, and higher average tickets even when footfall growth was moderate.
Gold prices near record highs have not stopped Indian households from buying jewellery for weddings and festivals, though the mix tilts toward studded pieces where margins are healthier for retailers. When festivals slip a quarter, some sales simply move with the calendar rather than disappearing, which is what these updates suggest. Same-store growth in the high teens or twenties implies existing showrooms are comping well without relying only on new store openings. That pattern fits other consumption signals from the same month, including strong updates from apparel and electronics retailers, even as equity investors debate whether stocks already price in a perfect festive season.
If you are planning large jewellery purchases, compare making charges and exchange policies across chains; competition stays intense even when headline gold rates are volatile. Small investors watching Titan or Kalyan should read same-store numbers alongside store expansion plans. Suppliers of diamonds and lightweight gold designs benefit when studded growth outpaces plain bullion. Watch November and December updates to see whether the delayed Navratri cluster shows up as an even bigger spike or whether Q2 simply pulled demand forward.
Telecom / IPO
On 22 October 2026, exchange data showed Jio Platforms’ ₹30,213 crore issue had drawn about ₹3.73 lakh crore of total bids by late evening on Day 2, with the retail portion oversubscribed and market commentators citing diverted cash from other listed stocks during the book build.
SEBI / market infrastructure
On 22 October 2026, the Securities and Exchange Board of India proposed letting stock exchanges and depositories fund core-market and regulator-mandated initiatives without prior approval for each ticket, while keeping board oversight and financial safeguards and inviting comments until 12 November.
E-commerce / food delivery
On 22 October 2026, reporting said Flipkart is testing an internal food delivery product called Eat-in by Minutes with more than 8,000 employees in Bengaluru, using Ekart logistics as it prepares to compete with Zomato and Swiggy in meal delivery.
Digital trust / compliance
On 22 October 2026, eMudhra Ltd said its board will voluntarily withdraw from the global SSL/TLS certificate segment after a key-security incident on eight intermediate certificates, citing compliance cost and weak economics while stressing that other digital-trust services continue.
For informational purposes only. Not investment advice. Verify with filings and a licensed adviser.