Newly listed stock Shankesh Jewellers has been witnessing strong buying interest despite weak stock market sentiment. Shankesh Jewellers share price surged as much as 18% to hit its record high of ₹116 in morning trade on the BSE on Friday, 11 September, even as equity benchmark Sensex crashed 1%.
The stock has been in the green since Wednesday, clocking a cumulative gain of 22% in just three consecutive sessions. shares were listed on the NSE and the BSE on 25 August this year. In less than a month, the stock has jumped 25% from the issue price of ₹93 per share.
Why is Shankesh Jewellers share price rising?
The fresh momentum in Shankesh Jewellers shares can be attributed to the company’s strong financial performance in the June quarter of the financial year 2026-27 (Q1FY27).
Shankesh Jewellers on 10 September reported a 100% year-on-year (YoY) jump in Q1FY27 profit after tax (PAT) to ₹43 crore, while revenue for the quarter rose by 55% YoY to ₹424 crore.
The company’s EBITDA in Q1FY27 jumped 92% YoY to ₹61 crore, while margin stood at 14.4% compared to 11.6% YoY.
“The quarter delivered strong financial performance. EBITDA margin expanded to 14.5% and PAT margin to 10.2%, demonstrating improving operating leverage and profitability.
We remain confident about the opportunities before us. We enter FY27 with confidence, a strong foundation and a clear focus on sustainable growth, deeper customer relationships and continued value creation for all our stakeholders,” said the company’s management.
“We believe the shift towards organised and differentiated handcrafted jewellery presents a significant opportunity. With our asset-light model, experienced karigar network and focus on high-quality, bespoke jewellery, Shankesh Jewellers is well positioned to participate in and benefit from the next phase of growth in India’s jewellery industry,” it said.
Shankesh Jewellers manufactures handcrafted gold jewellery, catering to a diverse customer base across India.
The stock also appears to be enjoying the sectoral tailwind. According to the company, India contributes nearly 7% to the national GDP and nearly 15% of total merchandise exports through gems and jewellery. Mandatory hallmarking (BIS) enhances quality assurance and gives organised retailers a competitive edge. Currently, only 30% of gold jewellery is hallmarked.
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.