US Midterm Elections: Kalyan Jewellers, PC, Lalithaa to Senco; top jewellery stock to buy as gold, silver rates rebound
Top jewellery stock to buy amid gold, silver rates crash: Amid the counting of the US Midterm Elections, indicating a setback for Donald Trump's Republican Party, as Democrats have taken a sizeable lead of 54 seats in the 100-seat Congress, gold and silver prices have paused their slide. After slipping below ₹1,39,000 per 10 gm in India, the MCX gold rate today is above ₹1,42,000, logging an intraday gain of over ₹3,000 per 10 gm. The MCX silver rate today is above ₹1,86,000, logging an intraday gain of over ₹7,000 per kg. However, gold and silver prices are still far away from their respective peaks of ₹1,80,779 per 10 gm and ₹4,20,048 per kg.
According to market experts, today's rally in gold and silver prices in India is expected to benefit jewellery companies. This means stock investors have an opportunity to buy jewellery stocks if they couldn't buy gold or silver after the crash from record highs. They said that flagship jewellery brands — Kalyan Jewellers, PC Jeweller, Lalithaa Jewellery, Senco Gold, etc. —have delivered strong Q2 Results 2026, making it easy for an investor to choose jewellery stocks after the US Midterm Elections.
Advising investors to look at flagship jewellery stocks after the setback to Donald Trump's Republican Party in the US Midterm Election Results, Avinash Gorakshkar, Founder of Avinash Mentor Research, said, “In the wake of a strong rebound in the gold and silver rates post-US Midterm Election Results 2026, organised jewellery brands are expected to benefit on their buffer stocks. As an organised company keeps gold and silver in stock to meet future demand, the recent rise in gold and silver prices is expected to enhance profitability and margins due to the buffer benefit.”
Gorakshkar said that flagship jewellery brands listed on the BSE and the NSE have declared their Q2 Results 2026, making it more easier for stock investors to pick jeweller stocks.
Taking cue from the Q2 Results 2026 numbers, Anuj Gupta, a SEBI-registered market expert, said, “For an investor looking for a high-risk, high-reward play, PC Jewellers is a suitable stock to buy after Q2 Results 2026, as the company has become profitable and re-rating is highly anticipated in this stock.”
According to Seema Srivastava, Senior Research Analyst at SMC Global Securities, PC Jeweller staged a dramatic turnaround, achieving a debt-free status after clearing its legacy bank dues and resolving export receivables, making it an intriguing special-situation play.
The SEBI-registered expert Anuj Gupta said that Senco Gold led topline growth, with retail revenue up 29% YoY and overall revenue up 31% YoY, alongside a 19% Same-Store Sales Growth (SSSG). H1FY27 topline crossed ₹5,000 crore, and trailing twelve months (TTM) sales crossed ₹10,000 crore.
The SMC Global Securities expert said that Senco Gold demonstrated stellar operating metrics, crossing a major milestone with a Trailing Twelve Months (TTM) topline exceeding 10,000 crore, backed by a healthy 19% Same-Store Sales Growth (SSSG), strong diamond stud ratio improvements, and disciplined regional expansion, positioning it as an efficient mid-to-large cap compounding candidate.
“Kalyan Jewellers remains the premier institutional scale choice, boasting a massive multi-geography footprint of 546 showrooms, stellar execution across domestic and Middle Eastern markets, zero non-GML debt, and an exceptional 64% growth surge in its digital-first lifestyle brand Candere,” Srivastava said.
Srivastava said that for a long-term core allocation focused on predictable market-share gains in India’s accelerating organised retail jewellery sector, Kalyan Jewellers and Senco Gold offer superior corporate governance, aggressive yet disciplined network expansions, and robust balance sheets, whereas PC Jeweller suits aggressive investors banking on a post-turnaround re-rating.
Decoding the technical chart of Kalyan Jewellers India shares, Mahesh M Ojha, VP — Research and Business Development at KC Securities, said, “Kalyan Jewellers India shares have strong support at ₹480, which is expected to remain sacrosanct. The jewellery stock is facing resistance at ₹590. On breaking above this resistance, the stock may soon touch ₹620 and ₹650.”
On what the technical chart reflects about the PC Jeweller shares, Ojha said, "PC Jeweller shares have strong support at ₹12.80, which is expected to remain sacrosanct. The jewellery stock is facing resistance at ₹18.80. On breaking above this resistance, the stock may soon touch ₹21 and ₹24.”
Speaking on Senco Gold shares' technical chart, Mahesh M Ojha of KC Securities said, "Senco Gold shares have strong support at ₹278, which is expected to remain sacrosanct. The jewellery stock is facing resistance at ₹324. On breaking above this resistance, the stock may soon touch ₹360.”
Ojha said that Lalithaa Jewellery shares have strong support placed at ₹328 and are facing resistance at ₹380. On breaking above this resistance, the stock may soon touch ₹424.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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