Tribhovandas Bhimji

May 27 (Reuters) - Tribhovandas Bhimji Zaveri Ltd TBZL.NS:

• TRIBHOVANDAS BHIMJI ZAVERI LTD - RECOMMENDS FINAL DIVIDEND OF 2.50 RUPEES PER SHARE FOR FY2026

• TRIBHOVANDAS BHIMJI ZAVERI MARCH QUARTER CONSOL NET PROFIT 676.4 MILLION RUPEES

• TRIBHOVANDAS BHIMJI ZAVERI MARCH QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 8.3 BILLION RUPEES

Source text: ID:nBSE7wtCwR

Further company coverage: TBZL.NS

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** Indian gems and jewellery stocks fall between 1.45% and 4.75%

** Donald Trump launches unfair trade practice probes into 16 key trading partners, including India, to restore tariffs recently struck down by Supreme Court as illegal

** Indian gems and jewellery companies have higher exposure to U.S. markets

** Kalyan Jewellers KALN.NS, PC Jeweller PCJE.NS and Tribhovandas Bhimji Zaveri TBZL.NS fall 1.5% to 2.11%

** Thangamayil Jewellery THNG.NS and Rajesh Exports REXP.NS lose the most - down 4.75% and 4.6%, respectively

** Bluestone BLUT.NS and Titan TITN.NS shed 2.7 and 2.5%, respectively

** BLUT and THNG only stocks among pack to post YTD gains

(Reporting by Urvi Dugar in Bengaluru)

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** Shares of Tribhovandas Bhimji Zaveri TBZL.NS rise as much as 8.48% to 182.69 rupees

** Indian jewellery retailer's Q3 profit jumps 170% buoyed by strong festive demand and higher store footfalls during the peak wedding season

** Co's Q3 net profit rose to 806.3 million rupees, rev up 14.4% y/y

** TBZL up ~6% so far in January

(Reporting by Urvi Dugar in Bengaluru)

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Jan 20 (Reuters) - Tribhovandas Bhimji Zaveri Ltd TBZL.NS:

• TRIBHOVANDAS BHIMJI ZAVERI Q3 CONSOL NET PROFIT 806.3 MILLION RUPEES

• TRIBHOVANDAS BHIMJI ZAVERI Q3 CONSOL TOTAL REVENUE FROM OPERATIONS 10.61 BILLION RUPEES

Further company coverage: TBZL.NS

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By Rajendra Jadhav and Brijesh Patel

NEW DELHI, Sept 15 (Reuters) - Gold demand in India this festive season is expected to be weaker than last year, as record-high prices are likely to curb jewellery purchases, outweighing modest gains in investment demand.

Weaker demand in the world's second-largest gold consumer could limit a rally in global prices XAU=, which hit a record high last week. But sluggish demand for gold imports could limit India's trade deficit and support the rupee.

Local gold prices MAUc1, which scaled a record peak of 109,840 rupees per 10 grams last week, have risen 42% year-to-date, after gaining 21% in 2024.

"Consumers have a fixed budget, and it's not keeping up with rising prices. We're expecting demand to fall by about 10%-15% in volume," Amit Modak, chief executive of PN Gadgil and Sons, said on the sidelines of the India Gold Conference in New Delhi.

Indians will celebrate Dussehra and Diwali in October, festivals during which buying gold is considered auspicious.

The December quarter typically accounts for about a third of India's gold sales, as it coincides with the start of the wedding season and festivals.

Gold demand in the December quarter last year stood at 265.8 metric tons, boosted by a price correction just ahead of the festive season after New Delhi slashed import duties on the metal to 6% from 15% in a bid to tackle smuggling.

Consumer sentiment has improved in the last few weeks despite rising prices, and in value terms, demand will still be much higher even if volumes decline, said Sachin Jain, CEO of the World Gold Council's Indian operations.

Besides, investment demand, especially through exchange-traded funds (ETFs), has been rising as gold has been delivering better returns than competing asset classes, Jain added.

Retail gold buying could get a boost from the government's move to cut goods and services tax (GST) on consumer items, as this will leave people with more disposable income, Harshad Ajmera of wholesaler JJ Gold House in Kolkata.

Earlier this month, India announced tax cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand.

(Reporting by Rajendra Jadhav and Brijesh Patel; Editing by Sumana Nandy)

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Aug 6 (Reuters) - Tribhovandas Bhimji Zaveri Ltd TBZL.NS:

• TRIBHOVANDAS BHIMJI ZAVERI LTD - RE-APPOINTMENT OF SHRIKANT ZAVERI AS MD

Source text: ID:nBSE1yDQxs

Further company coverage: TBZL.NS

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Adds IPO launch date in paragraph 4, details on issue of specified securities in paragraph 6

Aug 5 (Reuters) - India's Bluestone Jewellery and Lifestyle BLUT.NS has trimmed the size of its initial public offering, a prospectus showed on Tuesday.

The Accel India-backed company will now issue fresh shares worth 8.2 billion rupees (about $93 million), down from 10 billion rupees earlier.

Its existing shareholders, including venture capital firms Accel India and Kalaari Capital, will now sell 13.9 million shares in the offering, lower than the 24 million shares proposed earlier.

Bluestone will launch the IPO on August 11 and close bids on August 13. Anchor investors will bid for the share sale on August 8.

The jeweller was seeking a valuation of at least 120 billion rupees ($1.37 billion) in the IPO, Reuters reported in December, citing sources. The overall IPO size was slated to be around 30 billion rupees, the sources had said.

The company may consider issuing specified securities, in consolidation with bookrunning lead managers, aggregating up to 2 billion rupees in pre-IPO placement, its draft prospectus from December said.

The company, which sells diamond, gold, platinum and studded jewellery, competes with Titan TITN.NS, Kalyan Jewellers KALN.NS and Tribhovandas Bhimji Zaveri TBZL.NS among listed firms in India.

Proceeds from the offering will be used to fund working capital requirements and general corporate purposes, the Bluestone prospectus showed.

Axis Capital, IIFL Capital and Kotak Mahindra Capital are its bookrunning lead managers.

($1 = 87.7790 Indian rupees)

(Reporting by Manvi Pant; Editing by Shailesh Kuber)

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By Rajendra Jadhav

MUMBAI, July 31 (Reuters) - India's gold consumption in 2025 is set to fall to a five-year low, as record-high prices are denting jewellery purchases, overshadowing a slight boost in investment demand, the World Gold Council said on Thursday.

Gold demand in the world's second-biggest consumer of the precious metal could stand between 600 metric tons and 700 metric tons in 2025, the lowest since 2020, and down from last year's 802.8 tons, Sachin Jain, CEO of WGC's Indian operations, told Reuters.

Demand could reach 700 tons if prices stabilise, but a 10%–15% price rise driven by geopolitical factors may pull it down to the lower end of the range, he said.

Local gold prices MAUc1, which hit a record high of 101,078 rupees per 10 grams in June, have risen 28% so far in 2025, after a 21% gain in 2024.

India's gold consumption in the April-to-June quarter fell 10% from a year ago to 134.9 tons, as jewellery demand fell 17% while investment demand rose 7% in the quarter, the WGC said.

Demand in the September quarter is expected to be lower than last year's 248.3 tons, when New Delhi's move to reduce import duties boosted purchases, Jain said.

The precious metal has been outperforming other asset classes, drawing investors who favour both physical gold and gold exchange traded funds, he said.

"Gold ETFs in India are at a very important cusp for growth, and as India becomes more digitised, they are gaining popularity and prominence," he said.

Gold ETFs in India saw inflows surge ten-fold month-on-month to 20.81 billion rupees ($237.5 million) in June, hitting a five-month high, data from the Association of Mutual Funds in India showed earlier this month.

($1 = 87.6390 Indian rupees)

(Reporting by Rajendra Jadhav; Editing by Mrigank Dhaniwala)

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** Tribhovandas Bhimji Zaveri TBZL.NS jumps 5%, the upper limit of exchange-allowed trading band, to 179 rupees

** Jewellery maker's Q3 profit after tax soars 45% y/y; rev climbs 25%

** Stock set to snap four sessions of declines

** Day's gains trim YTD losses to 24%; TBZL had gained ~85% in 2024

($1 = 86.5020 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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By Rajendra Jadhav

MUMBAI, Feb 11 (Reuters) - Gold leasing rates in India have doubled within a month to a record high, following the overseas market, where rates jumped due to a supply crunch as global banks divert the precious metal to the United States, industry officials told Reuters.

Higher leasing rates are driving up jewellery production costs in the world's second-largest gold consumer and could squeeze margins of jewellers such as Titan TITN.NS, Kalyan Jewellers KALN.NS, and Tribhovandas Bhimji Zaveri TBZL.NS.

Gold leasing rates, which traditionally hover around 1.5% to 3%, have more than doubled in a month and could rise further, Shekhar Bhandari, president and business head of Kotak Mahindra Bank KTKM.NS told Reuters.

"Given the geopolitical uncertainty, trade war, and benefit arising out of higher futures prices on CME as compared to spot, it seems leasing rates will remain elevated for the next few months," he said.

Global bullion banks are flying gold into the United States from London, Switzerland, and Asian hubs such as Dubai and Hong Kong to capitalise on the unusually high premium of U.S. gold futures GCcv1 over spot prices XAU=, Reuters has reported.

The rush to move gold to the United States has lifted gold leasing rates in London, the world's key over-the-counter (OTC) market.

Banks in import-dependent India borrow gold from overseas banks and lend to jewellers. Rising borrowing costs have proportionally increased leasing rates in India, Bhandari said.

"Jewellers were caught off-guard by the leasing rate shooting up to a record high," said Amit Modak, chief executive of PN Gadgil and Sons, a jeweller based in the western city of Pune. "Now they're clueless about how to handle it."

Bullion-supplying banks were not bringing gold into India in recent weeks since the market is in discount, while deliveries on COMEX fetch premium, a Mumbai-based dealer with a bullion importing bank said.

The premium on COMEX futures over spot prices widened again to about $28 per ounce on Monday, compared with discounts as high as $24 in India.

Vaults in key Indian cities storing gold imported by bullion banks are nearly empty, as banks have moved gold to the United States and are not interested in bringing it to India given the discounts, said another Mumbai-based dealer with a bank.

"Indian discounts could have risen above $100 due to negligible demand. But a supply crunch is keeping them from sky-rocketing," he said.

(Reporting by Rajendra Jadhav; Additional reporting by Siddhi Nayak; Editing by Clarence Fernandez)

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By Rajendra Jadhav and Rahul Paswan

MUMBAI, Dec 18 (Reuters) - Soaring gold prices have led many Indian families to opt for lightweight and lower-carat jewellery to stay within their budgets, industry officials said.

"I wanted to gift my daughter 80 grams of gold, but I was forced to scale it down to 50 grams because of price increase in the past two years," said Mumbai-based Shubhangi More, choosing a necklace with a traditional design for her daughter's wedding.

Gold prices MAUc1 in the world's second biggest buyer of the precious metal have surged 22% so far this year, after rising 15% in 2023.

Most Indian buyers prefer traditional jewellery, but now they want it crafted in lightweight designs to fit their budgets, said Bachhraj Bamalwa, partner at jewellery retailer Nemichand Bamalwa & Sons.

"Recognising this preference, we are stocking more lightweight jewellery sets while scaling down our inventory of heavier designs," Bamalwa said.

Advances in manufacturing technology have enabled jewellery makers to craft traditional designs in lighter weights, said Sachin Jain, CEO of the World Gold Council's Indian operations.

Buyers are also switching to lower carat jewellery to reduce costs, jewellers said.

Guddi Devi, a teacher from Jamalpur in the northern state of Bihar, bought 18-carat jewellery for her daughter's wedding instead of 22-carat.

"I preferred the 18 carats of jewellery because it was cheaper compared to the 22 carats and is much stronger than it," she said.

Indians traditionally prefer jewellery made in 22-carat gold, which contains 91.7% pure gold, while 18-carat gold contains 75% pure gold and 25% other metals. The price of 18-carat gold is nearly a fifth lower than that of 22-carat gold.

"Lower prices and greater durability are making 18-carat jewellery increasingly popular. Its share in total sales has risen to over 15%, compared to just 5% to 7% two years ago," said Surendra Mehta, secretary at the India Bullion and Jewellers Association.

(Reporting by Rajendra Jadhav and Rahul Paswan. Editing by Mark Potter)

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Repeats story that ran on Tuesday, with no changes

By Rajendra Jadhav

MUMBAI, Oct 29 (Reuters) - Indian buyers of gold brushed off record high prices and made purchases for the Dhanteras and Diwali festivals starting on Tuesday, hoping bullion would continue to rally and deliver promising returns amid a cooling stock market, industry officials told Reuters.

Robust demand in the world's second-biggest gold consumer could further support global prices XAU=, which hit record highs last week. Rising demand for imports of gold could also widen India's trade deficit and put pressure on the rupee INR=IN.

"People are still into gold big time, even with prices at record highs during Dhanteras. With gold giving better returns than the stock market, there's been solid demand for coins and bars," said Saurabh Gadgil, chairman of PNG Jewellers PNGD.NS.

Indians were celebrating Dhanteras on Tuesday, a day considered auspicious for buying gold and one of the busiest gold-buying days in India.

Local gold prices MAUc1 jumped to a record high of 78,919 rupees per 10 grams last week, marking an increase of more than 31% since last year's Diwali. India's NSE Nifty 50 share index has dropped about 7% from a record high hit on Sept. 27.

Investors are working to diversify their portfolios by adding to or increasing their allocations in gold and silver, Gadgil said.

"In value terms, turnover during this year's Dhanteras is expected to be significantly higher than last year due to higher prices. In volume terms, it may be slightly lower or around the same level as last year," Prithviraj Kothari, president of the India Bullion and Jewellers Association (IBJA), said.

Indian dealers on Tuesday charged a premium XAU-IN-PREM of up to $1 an ounce over official domestic prices – inclusive of 6% import and 3% sales levies, up from the last week’s discount of $4.

Local silver futures MSVc1 hit a record high of 100,081 rupees per kilogram last week.

"Demand for silver coins and bars was strong today, as silver has delivered better returns than gold in recent months," said Chirag Thakkar, CEO of Amrapali Group Gujarat, a leading silver importer.

(Reporting by Rajendra Jadhav; Editing by Susan Fenton)

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By Rajendra Jadhav

MUMBAI, Oct 29 (Reuters) - Indian buyers of gold brushed off record high prices and made purchases for the Dhanteras and Diwali festivals starting on Tuesday, hoping bullion would continue to rally and deliver promising returns amid a cooling stock market, industry officials told Reuters.

Robust demand in the world's second-biggest gold consumer could further support global prices XAU=, which hit record highs last week. Rising demand for imports of gold could also widen India's trade deficit and put pressure on the rupee INR=IN.

"People are still into gold big time, even with prices at record highs during Dhanteras. With gold giving better returns than the stock market, there's been solid demand for coins and bars," said Saurabh Gadgil, chairman of PNG Jewellers PNGD.NS.

Indians were celebrating Dhanteras on Tuesday, a day considered auspicious for buying gold and one of the busiest gold-buying days in India.

Local gold prices MAUc1 jumped to a record high of 78,919 rupees per 10 grams last week, marking an increase of more than 31% since last year's Diwali. India's NSE Nifty 50 share index has dropped about 7% from a record high hit on Sept. 27.

Investors are working to diversify their portfolios by adding to or increasing their allocations in gold and silver, Gadgil said.

"In value terms, turnover during this year's Dhanteras is expected to be significantly higher than last year due to higher prices. In volume terms, it may be slightly lower or around the same level as last year," Prithviraj Kothari, president of the India Bullion and Jewellers Association (IBJA), said.

Indian dealers on Tuesday charged a premium XAU-IN-PREM of up to $1 an ounce over official domestic prices – inclusive of 6% import and 3% sales levies, up from the last week’s discount of $4.

Local silver futures MSVc1 hit a record high of 100,081 rupees per kilogram last week.

"Demand for silver coins and bars was strong today, as silver has delivered better returns than gold in recent months," said Chirag Thakkar, CEO of Amrapali Group Gujarat, a leading silver importer.

(Reporting by Rajendra Jadhav; Editing by Susan Fenton)

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** Shares of PC Jeweller PCJE.NS rise 2% to 154 rupees, hitting their highest since April 2019

** Co to consider a stock split on Sept. 30

** PCJE on track for fourth straight session of gains

** Stock has more than tripled so far this year vs an over two-fold rise in peer Tribhovandas Bhimji Zaveri TBZL.NS

(Reporting by Dimpal Gulwani in Bengaluru)

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** Shares of Indian jewellers jump 4-20%; gold financers gain as much as 4%

** Gold at record high on US rate cut optimism

** Tribhovandas Bhimji Zaveri TBZL.NS surges 20% and PC Jeweller PCJE.NS jumps 5%, both hit exchange-allowed upper limit

** Kalyan Jewellers KALN.NS and Senco Gold SENC.NS climb 6.3% and 4.1%, respectively, hit record highs

** Gold financiers Muthoot Finance MUTT.NS and Manappuram Finance MNFL.NS advance 2.6% and ~4% respectively

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of jewellery retailer Senco Gold SENC.NS rise 8.8% to 1,126.95 rupees, set for best day in nearly four months

** Co reports Q1 consolidated net profit of 512.7 mln rupees, up 85% from a year ago

** Revenue rose 7.5% to 14.04 bln rupees, while expenses rose 5.3% to 13.45 bln rupees

** More than 633,000 shares change hands, 2x the 30-day avg

** Stock up 64% YTD vs ~34% rise in rival Tribhovandas Bhimji Zaveri TBZL.NS

(Reporting by Dimpal Gulwani in Bengaluru)

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** Shares of Sky Gold SKYG.NS up 5% at 2,347 rupees

** Stock hits upper limit of exchange-mandated trading band, after hitting this limit 29 other times in 2024

** Jewellery maker's Q1 consol net profit surges 98.9%; rev up 92.5%

** Stock up 130% YTD, vs a 52% and 27% surge in shares of peers Kalyan Jewellers KALN.NS and Tribhovandas Bhimji Zaveri TBZL.NS

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of Tribhovandas Bhimji Zaveri TBZL.NS rise 10.3% to 149.61 rupees

** Co posted a 50% rise in Q1 profit on Monday, helped by higher demand for its gold jewellery despite soaring prices

** Rivals Kalyan Jewellers India KALN.NS and Titan TITN.NS flat

** Trading vols 1.2x 30-day avg

** TBZL has risen more than 17% YTD, compared to 54% jump in KALN and 8% loss in TITN

(Reporting by Hritam Mukherjee in Bengaluru)

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BENGALURU, Aug 5 (Reuters) - India's Tribhovandas Bhimji Zaveri (TBZ) TBZL.NS posted a 50% rise in first-quarter profit on Monday, helped by increasing demand for its gold jewellery despite soaring prices.

Consolidated net profit rose to 170.5 million rupees ($2 million) in the quarter ended June, the jeweller said, while sales rose 4.5% to 5.96 billion rupees.

TBZ's core profit margin expanded to 7.14% during the quarter from 5.65% a year earlier as the company focused on high-margin products, which boosted the bottomline, it said.

Soaring gold prices, however, pushed up the company's raw material costs by 34%. Total expenses rose 3%.

As gold prices continue to rise, retailers are either increasing prices to protect their bottomline or offering discounts to attract customers.

Larger rival Titan TITN.NS missed quarterly profit estimates last week as higher gold prices dampened demand in its mainstay jewellery segment, while discounts helped Kalyan Jewellers KALN.NS report a higher first-quarter profit.

Shares of TBZ ended about 6% lower amid a broader selloff in the market on Monday. The benchmark Nifty 50 .NSEI closed 2.7% lower.

($1 = 84.1150 Indian rupees)

(Reporting by Hritam Mukherjee and Dimpal Gulwani in Bengaluru; Editing by Sonia Cheema)

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Adds trade official, premium update, share price, detail, from paragraph 3

By Rajendra Jadhav

MUMBAI, July 23 (Reuters) - India slashed import duties on gold and silver on Tuesday in a move industry officials said could lift retail demand and help cut smuggling in the world's second-biggest bullion consumer.

Higher demand for gold from India could boost global prices, which hit a record high this year, although that could widen India's trade deficit and put pressure on its ailing rupee.

"It's a massive step in (the) right direction, as it will reduce the incentives for smuggling of gold. It will create a level playing field for honest industry stakeholders," said Sachin Jain, CEO of World Gold Council's Indian operations.

The government said it will charge 5% basic customs duty and 1% in Agriculture Infrastructure & Development Cess (AIDC) on gold and silver imports, lowering import duties to 6% from 15%.

"To enhance domestic value addition in gold and precious metal jewellery, I propose to reduce customs duties of gold and silver to 6%," India's Finance Minister Nirmala Sitharaman said in a budget speech.

Local gold prices MAUc1 fell 6% to 68,500 rupees per 10 grams, their to their lowest level in more than three months after the announcement. Indian prices hit a record high of 74,777 rupees earlier this month, which squeezed demand.

Overseas gold prices XAU= erased losses and rose 0.4%.

Indian jewellery demand was hit by record-high gold prices, but the duty cut will bring down prices and boost consumption, said Saurabh Gadgil, chairman of PNG Jewellers.

Gold was trading at a premium in India for the first time in eleven weeks on Tuesday, with dealers charging a premium of up to $20 an ounce over official domestic prices, inclusive of 15% import and 3% sales levies, versus last week's discount of $65.

Shares of jewellery makers such as Titan Company TITN.NS, Tribhovandas Bhimji Zaveri TBZL.NS, Senco Gold SENC.NS and Kalyan Jewellers jumped by up to 10%.

Finance Minister Sitharaman also announced an import duty exemption for 25 critical minerals, including lithium. India has been exploring ways to secure supplies of lithium, a critical raw material used to make electric vehicle batteries.

(Reporting by Rajendra Jadhav; Additional reporting by Neha Arora; Editing by Himani Sarkar, Clarence Fernandez and Alexander Smith)

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** Shares of jeweller Titan Company TITN.NS down 2% at 3,270.05 rupees

** Kotak Institutional Equities cuts to "reduce" from "add", cuts PT to 3,075 rupees from 3,600 rupees

** Says growing competition among large players since past 1-2 years to intensify as Aditya Birla Group launches this year

** Adds increase in gold prices is helping smaller players as inventory gains allow them to offer more discounts

** TITN quarterly update due later today

** Avg rating of 27 analysts equivalent of "buy", median PT is 3,700 rupees - LSEG data

** TITN shares slid 10.5% in June

** Kalyan Jewellers KALN.NS and Tribhovandas Bhimji Zaveri TBZL.NS have gained 16-17%

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** Shares of Sky Gold SKYG.NS rise 5% to 1,528.60 rupees, hitting a record high and its upper circuit

** Jewellery maker acquires two firms, Starmangalsutra and Sparkling Chains, for a consideration of 499.8 million rupees (~$6 million)

** Stock on track for fourth consecutive session of gains

** Stock up 50% YTD compared to peers Tribhovandas Bhimji Zaveri TBZL.NS which is down ~4% YTD while Kalyan Jewellers India KALN.NS is up 25%

($1 = 83.5280 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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Indian jeweller Tribhovandas Bhimji Zaveri TBZL.NS reported a 7.5% rise in its fourth-quarter profit on Monday, driven by steady demand.

The company said its consolidated net profit rose to 126.1 million rupees ($1.5 million) for the quarter ended March 31, up from 117.3 million rupees a year ago.

The jewellery retail chain's bottom-line received a boost this quarter due to steady demand, driven by an extended Indian wedding season in January.

Gold demand in India, the world's second-largest gold consumer, rose 8% year-on-year in the January-March quarter despite gold prices rising to record highs of 67,850 rupees per 10 grams in the March quarter.

The Mumbai-based TBZ's total revenue from operations rose 9% to 5.07 billion rupees, while total expenses rose 9.2% to 4.93 billion rupees.

The company said it adopted advanced inventory management systems and process automation, among other processes, to streamline operations and reduce costs, adding that it plans to open franchise stores in new cities in the fiscal year 2025.

Larger rival Titan Company TITN.NS reported a quarterly profit miss earlier this month due to higher discounts and gold prices, while Kalyan Jewellers India KALN.NS reported a 96% jump in its fourth-quarter profit.

TBZ's shares ended about 0.8% higher ahead of the results. So far this year, the stock has fallen by 12.8%.

($1 = 83.1020 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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** Shares of Senco Gold SENC.NS rise as much as 11.6% to 894.70 rupees; last up 9.4%

** Jewellery retailer says revenue grew 39% Y/Y in Q4, resulting in 28% growth in FY24

** 1 mln-plus shares traded, over 6x the 30-day avg and busiest session since late Feb

** SENC lost 7.2% in March, worst month since listing in July 2023

** Still, stock is up ~28% YTD, while larger rival Tribhovandas Bhimji Zaveri TBZL.NS has dropped ~10%

** TBZL down about 4% on the day

(Reporting by Dimpal Gulwani in Bengaluru)

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BENGALURU, Jan 31 (Reuters) - Kalyan Jewellers India KALN.NS reported a near 22% rise in its third-quarter profit on Wednesday, lifted by festive season-fuelled demand across India and the Middle East markets.

The company's consolidated net profit rose to 1.81 billion rupees (about $22 million) in the October-December quarter, from 1.49 billion rupees a year earlier.

Its India sales jumped 40%, led by robust same-store-sales growth, Kalyan said earlier this month, as it rolled out offers during the quarter that included the Diwali and Christmas festivals.

India, the world's second-biggest consumer of the yellow metal, ramped up purchases of gold, sending imports up 60% in October to meet the festive demand.

The Thrissur, Kerala-based company added that its Middle East operations saw a 6% volume growth.

However, its total cost of materials consumed rose nearly 35%, owing to a jump in gold prices.

Kalyan, which has 235 stores across India and the Middle East, said it plans to add 15 showrooms in India, two in the Middle East and enhance the presence of its online store, Candere.

Its rivals Tribhovandas Bhimji Zaveri TBZL.NS and Tanishq jewellery brand owner Titan .TITN.NS are yet to report results.

($1 = 83.0625 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sherry Jacob-Phillips)

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** Shares of Indian jewellers fall 2%-4.5% after govt raised import duty on gold and silver findings, and coins

** Kalyan Jewellers KALN.NS, PC Jeweller PCJE.NS, Vaibhav Global VAIB.NS down 2%-4.5%; Goldiam International GOLI.NS Tribhovandas Bhimji Zaveri TBZL.NS down 4%-2%

** KALN only "Buy" rated stock on average after Titan TITN.NS among jewellery stocks - LSEG

** KALN top performer last year among jewellery stocks, gaining 179%

(Reporting by Sethuraman NR in Bengaluru)

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** Shares of Senco Gold Ltd SENC.NS rise 15.6% to record 850 rupees

** Jewellery retailer's Q3 rev grew 24% to an all-time high; gold vols up 9%, diamond vols up 27%

** Stock last up 10.4%, trading higher for third straight session

** Around 680,000 shares traded vs 30-day avg of ~357,000 shares

** SENC's 62% rise in 2023 – which is also when it listed – in line with larger rival Tribhovandas Bhimji Zaveri TBZL.NS, better than Titan's TITN.NS 42%, but trails Kalyan Jewellers' KALN.NS 180% rise

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of Kalyan Jewellers India KALN.NS rise as much as 4.4% to 380 rupees; hits highest level since listing

** Stock on track for a 2nd consecutive session of gains, if trend holds

** Co says revenue for India operations up about 40% Y/Y in Q3

** Added 22 net new 'Kalyan' showrooms in India during qtr - Co

** Stock above its 200-day moving avg since June 1, 2023

** Avg analyst rating of KALN is a "buy" per LSEG data; PT of 362 rupees is slightly below current market price

** Stock rose 180% in 2023, outperforming 41% gains in TITN and 49% rise in Tribhovandas Bhimji Zaveri TBZL.NS

(Reporting by Yagnoseni Das in Bengaluru)

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BENGALURU, Nov 6 (Reuters) - Indian jeweller Tribhovandas Bhimji Zaveri TBZL.NS reported a near 65% rise in second-quarter profit on Monday, buoyed by lower expenses and strong diamond demand.

The company said its consolidated net profit rose to 90.1 million Indian rupees ($1.08 million) for the quarter ended September 30, from 54.7 million rupees a year earlier.

The growth in its diamond jewellery segment remained steady that helped cushion the blow from higher gold prices on the margins, Tribhovandas said.

Its total expenses fell nearly 11.5% from a year-ago quarter.

But for the second time straight, the gold and diamond jewellery maker saw lower sales with total revenue from operations down 10.5% at 4.81 billion rupees in the September quarter, compared with last year.

Gold prices rose to near record highs of 61,845 rupees per 10 grams this year, dampening retail demand during the festive season in India - the world's second-largest gold consumer.

Mumbai-based Tribhovandas said it expects to see steady growth in December quarter on the back of robust demand during the traditional wedding season.

On a sequential basis, the company's results compare with June quarter that saw a nearly five-fold rise profit but posted a fall in revenue for the first time in 10 quarters.

Its larger rival Titan TITN.NS last week reported a 9.7% rise in quarterly profit, beating analysts' estimates, on strong demand for its Tanishq gold jewellery. Kalyan Jewellers India KALN.NS and PC Jeweller PCJE.NS are yet to report their quarterly results later this month.

Shares of Tribhovandas closed 7% higher at 136.1 rupees ahead of the results.

($1 = 83.1880 Indian rupees)

(Reporting by Ashna Teresa Britto; Editing by Shweta Agarwal)

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** Shares of Indian jewellers Kalyan Jewellers KALN.NS, Vaibhav Global VAIB.NS, Thangamayil Jewellery THNG.NS, Goldiam International GOLI.NS, Tribhovandas Bhimji Zaveri TBZL.NS, PC Jeweller PCJE.NS and Senco Gold SENC.NS rise between 1%-6%

** Jewellers like Kalyan, Titan TITN.NS have reported strong sales in Q2, while gold demand has risen amid conflict in the Middle East

** ICICI Securities expects jewellery segment to outperform other consumer discretionary segments in medium term, as it is relatively immune to general slowdown in consumer discretionary spends

** Brokerage sees Kalyan potentially outperforming Titan in FY24 revenues

** ICICI says KALN benefits from faster retail expansion; expects co to exceed its guidance of store expansion in FY24

(Reporting by Aleef Jahan and Sethuraman NR in Bengaluru)

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