Jewellery sales expected to grow by 40 per cent in 'Akshaya Tritiya'

Posted By: Religare
Subscribe to GoodReturns

Although the gold prices are soaring high, but still the jewellers are expecting that their business would rise up to 40 per cent during Akshaya Tritiya, as the festival is considered to be auspicious for buying gold.

Holding the same view, Gitanjali Group Chairman Mehul Choksi reported, "We are expecting a 40 per cent growth in jewellery sales in terms of value and 15 per cent in volume."

The consumer sentiments are very high despite the fact that price of gold has reached a new peak of over Rs. 23,000 per 10 grams during last week. It is reported that the gold prices have increased up to 25 per cent as compared to Akshaya Tritiya last year and based on the positive consumer sentiment, the jewelers are expecting sales within 15 per cent in terms of volume.

On April 30, 2011 the gold prices were Rs. 22,815 per 10 grams in Mumbai and had reached an all-time high in Delhi to Rs. 23,175 per 10 grams.

Read more about: gold, gitanjali gems
Story first published: Tuesday, May 3, 2011, 9:30 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'