India is the world’s second-largest consumer of gold. Check out the top gold stocks in the country, based on market capitalization. Data as of October 2024. Source – Moneycontrol
Gold holds a significant place in India’s culture, symbolizing wealth and tradition. In fact, India accounts for 25% of global gold demand!
From jewelry makers to gold-focused non-banking finance companies (NBFC), let’s take a look at the companies that make up the top gold-related stocks in the country:
Market cap: ₹2,85,187 Cr Parent to popular jewelry brands such as Tanishq, Zoya, and CaratLane, the Titan Company is a lifestyle company with more than 2,000 retail stores.
Market cap: ₹76,757 Cr. Muthoot Finance operates as a major NBFC with a focus on gold loans, contributing to the financial sector.
Market cap: ₹72,989 Cr. Kalyan Jewellers, known for its wide market reach, is a legacy jewelry manufacturer with its origins dating back 100+ years in Thrissur, Kerala.
Market cap: ₹13,264 Cr. Yet another Kerala-based entry to this list! Manappuram Finance is an NBFC that offers financial services centered around gold loans.
Market cap: ₹6,971 Cr. Rajesh Exports is a multinational gold retailer headquartered in Bengaluru, Karnataka. The company specializes in gold manufacturing and export.
Company Name Market Cap(₹Cr.) Titan Company Ltd 2,85,187 Muthoot Finance Ltd 76,757 Kalyan Jewellers India Ltd 72,989 Manappuram Finance Ltd 13,264 Rajesh Exports Ltd 6,971 Data as of 28th October 2024