Motisons shares gain around 12% as jewellery stocks are back in action - Check details

Shares of Manoj Vaibhav Gems N Jewellers gained around 12 per cent on Friday as jewellery stocks are back in action ahead of the festive season. 

The The counter opened opened gap up today at Rs 279 against the previous close of Rs 272.45. 

It gained further to touch the high of Rs 305 - a gain of 11.78 per cent from the previous close. This 52-week high of the stock is Rs 382.20 and the 52-week low of the counter is Rs 170.

Meanwhile, India's organised gold loan market is projected to double in the next five years to Rs 14.19 lakh crore despite expected moderation in growth due to stricter regulations, said a PwC India report.

In fiscal 2023-24, the organised gold loan market demonstrated substantial growth, reaching a valuation of Rs 7.1 lakh crore, according to the report titled 'Striking gold: The rise of India's gold loan market'.

"It is expected to reach around Rs 14.19 lakh crore by FY 2029 at a five-year CAGR of 14.85 per cent," it said.

Indian families own massive quantities of gold, estimated at 25,000 tonnes. Existing gold holdings with Indian households are valued at roughly Rs 126 lakh crore, the report said.