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Every year, the Union Budget becomes one of the most closely watched events for Indian markets. A common question traders ask is whether the stock market will remain open on Budget Day 1st February 2026.
As per long-standing practice, Indian stock markets remain open on the day the Union Budget is presented, provided it falls on a normal trading day. Both NSE and BSE allow trading to continue during Budget presentations so that markets can immediately react to policy announcements, taxation changes, and sector-specific measures.
If the Budget presentation happens to coincide with a non-trading day, exchanges may announce a special live trading session, subject to official notification. Traders should always rely on exchange circulars for final confirmation.
The Union Budget directly influences the economy, businesses, and investor sentiment. Keeping markets open ensures transparent price discovery and avoids panic-driven reactions later.
During previous Budgets, sectors such as banking, infrastructure, FMCG, capital goods, and PSU stocks witnessed sharp movements within minutes of announcements. For example:
Allowing live trading ensures these reactions happen in a regulated and orderly manner.
On a normal Budget Day trading session, the market follows standard timings:
Any deviation such as extended trading or special sessions is communicated in advance by NSE and BSE through official circulars.
Budget Day is known for sudden spikes in volatility. Nifty and Sensex can swing sharply as headlines emerge. Options premiums rise, and intraday traders see rapid price movements.
Different sectors respond differently depending on policy direction:
While intraday moves can be volatile, long-term investors focus on structural reforms, growth outlook, and fiscal stability outlined in the Budget speech.
SEBI continuously monitors trading activity during high-volatility events like the Union Budget to ensure market integrity, risk management, and investor protection.
Budget Day is not about predicting the Budget but responding to it intelligently. This is where a reliable, SEBI-registered broker becomes critical.
Instead of reacting blindly to headlines, Swastika Investmart empowers traders with context, analysis, and disciplined execution.
Yes, if 1st February 2026 is a regular trading day, NSE and BSE will remain open. Any special session will be announced officially by the exchanges.
Budget Day offers opportunities due to volatility, but it also carries higher risk. It suits experienced traders with strict risk management.
No. Sector-specific announcements impact stocks differently. Some sectors benefit while others may see profit booking.
Beginners should be cautious. Observing the market or trading with minimal exposure is usually advisable.
The Union Budget is a defining event for Indian financial markets, and the market remaining open on Budget Day 1st February 2026 ensures transparency and real-time price discovery. While volatility is inevitable, disciplined trading and informed decision-making make all the difference.
If you want expert insights, robust technology, and reliable support during high-impact events like the Union Budget, consider trading with Swastika Investmart, a trusted name in Indian capital markets.
Incorporated in 2006, Barbeque Nation Restaurants is one of the leading casual dining restaurant chains (in terms of outlet count as of September 30, 2020) according to the Technopak Report, and International Barbeque Nation Restaurants. The company also owns and operates Toscano Restaurants and UBQ by Barbeque Nation Restaurant.
The first Barbeque Nation Restaurant was launched in 2006 by SHL, one of our Promoters. The company launched our first Barbeque Nation Restaurant in 2008 and subsequently acquired five Barbeque Nation Restaurants owned by SHL in 2012.
Barbeque Nation have steadily grown our owned and operated Barbeque Nation Restaurant network from a single restaurant in 2008 to 147 Barbeque Nation Restaurants (including opened, temporarily closed and under construction outlets) across 77 cities in India and six International Barbeque Nation Restaurants in three countries outside India as of December 31, 2020.
The company owns 61.35% of the equity share capital on a fully diluted basis of one of our Subsidiaries, Red Apple, which owns and operates nine restaurants under the brand name, “Toscano”, a casual dining Italian restaurant chain and operates one restaurant each under the brand names “La Terrace” and “Collage” respectively.
The first Toscano Restaurant commenced operations in June 2008 and, as of December 31, 2020, we operated eleven Italian Restaurants, nine of which are under the brand name “Toscano”, in three cities in India. In November 2018, Barbeque Nation launched UBQ by Barbeque Nation Restaurant to provide a la carte Indian cuisine in the value segment. At present, UBQ by Barbeque Nation Restaurant predominantly caters to the delivery segment.
Barbeque Nation Restaurants, compared to other fixed-price dining options, offer competitive attractions such as a wide range of vegetarian and non-vegetarian appetizers and main courses, a popular dessert menu, a pleasant and casual dining environment, and prompt service thereby making it a popular destination for celebrations. The company also periodically run popular food festivals at our Barbeque Nation Restaurants offering our guests a range of Indian, international and fusion cuisines.
IPO Details:
IPO Date March 24th, 2021 to March 26th, 2021Issue TypeBook Built Issue IPO Issue SizeRs 452.87 Crores Fresh IssueRs 275 crore Offer for Sale98,22,947 equity shares Face ValueRs.5 per equity share IPO PriceRs.499 to Rs.500 equity share Min Order Quantity30Listing At BSE, NSE
IPO Objective:
Financial Performance:
FY2018 FY2018 FY2019 FY2020 9M FY2021 Revenue 590.4742.5850.8236.6Expenses450.1593.2682.8224.0Comprehensive income-6.5-40.7-35.6-98.6Margin (%)-1.1-5.5-4.2-41.7
Tentative Time Table:
IPO Opens on 24 March 2021
IPO Closes on 26 March 2021
Basis of Allotment Date: Apr 5, 2021
Initiation of Refunds: Apr 5, 2021
The credit of Shares to Demat Account: Apr 6, 2021
IPO Listing Date: Apr 7, 2021
Outlook :
The Barbeque Nation IPO is coming at a time when the COVID-19 pandemic has made many restaurants unviable. Food orders can meaningfully increase and the share of trusted brands is bound to go up vs random mom-pop restaurants that may not be able to assure hygiene.
The restaurant chain has seen compounded annual growth of 14.29%. It has grown from ₹68.60 Crore in FY17 to 89.60 Crore in FY19.
The company is backed by private equity investor CX Partners and ace investor Rakesh Jhunjhunwala’s investment firm Alchemy Capital. Alchemy Capital bought about a 3.5% stake in Barbeque-Nation Hospitality for ₹90 Crore last year.
It also acquired a 61.35% stake in Red Apple Kitchen, which owns Toscano, a casual dining Italian restaurant chain that has ten outlets operating across Bengaluru and Chennai.
Earlier in December last year, Jubilant Foodworks, which operates fast-food chains Domino's Pizza and Dunkin' Donuts in India, had acquired a 10.76 percent equity stake into Barbeque-Nation Hospitality Ltd (BNHL) Rs 92 crore.
Barbeque Nation also launched UBQ through its existing kitchen infrastructure, in November 2018 to provide a la carte Indian cuisine in the value segment, which is also being availed by delivery across 71 cities in India.
The restaurant & hospitality sector, despite being amongst the worst hit due to COVID 19 has tremendous potential in a growing economy like India.
With the rise of nuclear families, changing habits, and increasing urban population with higher disposable income coupled with strong growth of food-related e-commerce platforms, a strong branded player like Barbeque Nation stands to gain in the future. IPO could attract a lot of interest among both retail & institutional investors leading to a strong listing.
सोने और चांदी की भाव निचले स्तरों से सुधार होने के बाद एक सकारात्मक सीमित दायरे में बने हुए है। डॉलर इंडेक्स दो सप्ताह के निचले स्तरों से पलट गया जिससे कीमती धातुओं के भाव अस्थिर हुए है। 10 वर्ष अमेरिकी बॉन्ड यील्ड 14 महीने की ऊंचाई 1.7 प्रतिशत के स्तरों पर पहुंच गई है। बढ़ती हुई बॉन्ड यील्ड से गैरउपज वाली धातु सोने के भाव मे बढ़त सीमित हो गई है।
डॉलर को बढ़ती बॉन्ड यील्ड का सपोर्ट है जैसा सामान्य रूप से होता है, लेकिन यह मजबूत होती अमेरिकी आर्थिक स्थिति से भी प्रभावित है। अमेरिकी मुद्रास्फीति अभी अपने लक्ष्य 2 प्रतिशत के निचे चल रही है, अगर अर्थव्यवस्था मजबूत होती है और मुद्रास्फीति नहीं बढ़ती है, तो यह सोने के लिए ख़राब संकेत है। अमेरिकी फ़ेडरल बैंक ने अपनी बैठक मे वर्त्तमान मौद्रिक निति को उचित ठहराया है।
फेड प्रमुख के भाषण के मुताबिक अमेरिकी ट्रेजरी की पैदावार तेजी से बढ़ी है क्योंकि नए वित्तीय सहायता में व्यापक टीकाकरण और 1.9 ट्रिलियन डॉलर की वित्तीय सहायता के बीच आर्थिक दृष्टिकोण में सुधार हुआ है। निवेशकों के बीच जल्द ब्याज दरे बढ़ने की अटकले रही लेकिन फेड ने यह स्पष्ट करते हुए 2023 तक ब्याज दरों मे कोई बढ़ोतरी नहीं करने के लिए कहा है।
इस सप्ताह कीमती धातुओं के भाव दबाव मे रह सकते है। सोने मे 44000 रुपये के निचले स्तरों पर सपोर्ट है तथा 45500 रुपये पर प्रतिरोध है। चाँदी में 65800 रुपये पर सपोर्ट और 69000 रुपये पर प्रतिरोध है। किसी भी, समस्या, सुझाव, सहायता अथवा सहयोग हेतु यहाँ संपर्क करें
Incorporated in 2008, Suryoday Small Finance Bank Ltd is a leading Small Finance Bank (SFB) in India. The company started offering SFB services in 2017. They serve customers in the unbanked and underbanked segments. Before SBF, the company operated as an NBFC.
Suryoday Small Finance Bank Ltd commenced microfinance operations in 2009 and has since expanded operations across 13 states and union territories, as of December 31, 2020.
As of December 31, 2020, our customer base was 1.44 million and our employee base comprised 4,770 employees and operated 554 Banking Outlets including 153 Unbanked Rural Centres (“URCs”).
The company has set up 661 customer service points (“CSPs”) as additional service or touch points during April 1, 2020, and January 31, 2021, and intend to continue to expand our reach through the CSP model.
The delivery platform also includes partnering with business correspondents (“BCs”) for sourcing both asset and liability business and have expanded our network and presence through their reach to promote financial inclusion.
The company has arrangements with various payment banks in India and has been able to leverage our relationship with such payment banks to grow our deposit base.
The distribution network comprises ATMs, phone banking, mobile banking, tablet banking, unified payment interface (UPI), CSPs, and internet banking services. The company’s operations are predominantly in urban and semi-urban locations due to greater income earning capabilities and employment opportunities in such areas compared with rural regions.
Gross Loan Portfolio has grown at a CAGR of 46.98% from ₹ 17,177.84 million as of March 31, 2018, to ₹ 37,108.42 million as of March 31, 2020, and was ₹ 39,082.29 million as of December 31, 2020.
Deposits have grown at a CAGR of 94.95% from ₹ 7,495.22 million as of March 31, 2018, to ₹ 28,487.15 million as of March 31, 2020, and was ₹ 33,438.40 million as of December 31, 2020. As of December 31, 2020, retail deposits comprised 72.40% of our total deposits.
IPO Details:
IPO Date March 17th, 2021 to March 19th, 2021Issue Type Book Built Issue IPO Issue Size19,093,070 Eq Shares of ₹10(aggregating up to ₹582.34 Cr)Fresh Issue8,150,000 Eq Shares of ₹10(aggregating up to ₹248.58 Cr)Offer for Sale10,943,070 Eq Shares of ₹10(aggregating up to ₹333.76 Cr)Face Value Rs.10 per equity share IPO Price Rs. 303 to Rs. 305 equity share Min Order Quantity49Listing At BSE, NSE
IPO Objective:
The Bank proposes to utilize the Net Proceeds from the Fresh Issue towards:
Financial Performance:
ParticularsFor the year/period ended (₹ in Crores)31-Dec-2031-Mar-2031-Mar-1931-Mar-18Total Assets63,50.453,64.537,61.221,55.9Total Revenue6,89.8,54.15,97.03,24.9Profit After Tax54.81,11.190.311.4
Tentative Time Table:
Outlook :
Suryoday SFB is among the leading SFBs in India in terms of net interest margins, return on assets, yields, and deposit growth and had the lowest cost-to-income ratio among SFBs in India in Fiscal 2020. Total assets show consistent growth.
Over the years, it has recorded a CAGR of 47.98%. This can be because of the fact that the gross loan portfolio of Suryoday has shown a CAGR of 46.98% over the past two years, from FY 2018 to FY 2020. The deposits, too, have shown a CAGR of 94.95%. From Rs. 749.52 crores in FY 2018, it has grown to Rs. 2,848.71 crores in FY 2020.
In fact, as of FY 2020, 54.44% of the total deposits came from the retail category. The net profit earned shows an overall increase, but in FY 2017 and FY 2018, the figures show a dip. The CAGR, in this case, is 47.05%. Over the past six years, the company has recorded a positive net cash flow from operating activities in only two years.
The rest of the year is characterized by the increasing negative value of net operating cash flow. This market is dominated by the top three small finance banks – AU, Equitas, and Ujjivan. Together, these three banks accounted for about 63% of the total assets under management in 2020.
Overall, there is significant growth expected in the near future. The deposit base of small finance banks increased by about 48% in FY 2020. A CAGR of 22% is predicted in the loan portfolio in this market. This growth is based on the fact that the Indian economy is focusing on the growth of the banking sector and financial inclusion. There is a significant market opportunity in the rural parts of the country.
Suryoday SFB is showing decent growth in both revenue and profit front whereas there is an improvement on the margin front as well. Over the period FY18-20, Gross Loan Portfolio, and Deposits have grown at a CAGR of 46.98% and 94.95% respectively.
If we talk about valuation then at the upper band the PE ratio works out to be around 23 while the PB ratio is around 2.3 which is in line with peers. This business has good growth potential amid a strong Indian economic growth outlook but it has its own systematic risks. Though valuation is not very lucrative by looking at strong growth in financials.
Incorporated in 1999, Nazara Technologies Ltd is a leading mobile game company in India. The company offers a range of diversified gaming products across the Interactive gaming, eSports, and gamified early learning ecosystem across emerging markets i.e. India, Africa, South East Asia, Middle East, and Latin America.
It is one of the leading live eSports streaming and on-demand eSports media content providers in India. Carrom Clash and World Cricket Championships in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports, and Halaplay and Qunami are some of its offerings.
The business operates in different segments; Subscription-based business, Freemium Business, eSports, Gamified early learning, and Real money gaming. Subscription business focuses on mass mobile internet users comprising mainly first-time mobile gamers.
The company derives maximum revenue from subscription fees charged from customers under the gamified early learning and eSports business segments.
The company’s Product Portfolio comprises of three businesses:
IPO Details:
IPO Date March 17th, 2021 to March 19th, 2021 Issue Type Book Built Issue IPO Issue Size5,543,052 Eq Shares of Rs.4(aggregating up to Rs. 582.29 Cr)Fresh Issue NIL Offer for Sale5,543,052 Eq Shares of Rs. 4(aggregating up to Rs. 582.29 Cr)Face ValueRs.4 per equity share IPO PriceRs.1100 to Rs.1101 equity share Min Order Quantity13Listing At BSE, NSE
IPO Objective:
The company purposes to utilize funds towards the following objectives:
Financial Performance:
ParticularsFY18FY19FY201HFY21Total Assets470.76514.58776.83798.66Revenue172.00169.70247.50200.50Ebitda48.7016.30-5.506.10Ebitda margin (%)28.309.60-2.203.00Net profit2.7017.50-2.10-5.00Net profit margin: (%)1.5710.31-0.85-2.49
Tentative Time Table:
IPO Opens on :17 March 2021
IPO Closes on: 19 March 2021
Basis of Allotment Date: Mar 24, 2021
Initiation of Refunds: 24Mar, 2021
Credit of Shares to Demat Account: 25Mar, 2021
IPO Listing Date: 30 Mar 26, 2021
The digital gaming market worldwide has seen a paradigm shift in adoption and distribution as well as user behavior. The global games market generated revenue of $104.8 billion in 2016, up by 12.6% from 2015. Revenues will have potentially increased to $116.0 billion in 2017 and will continue to increase to $151.7 billion in 2021. Growth is expected to be driven from South-East Asia, the Middle East and India.
Eyeing the growth of the online gaming industry, the interaction with Smartphones and laptops of the youth and cheaper data prices, it is expected that the gaming industry is expected to reach new highs. Digital adverting is also expected to increase, which will help the tech gaming companies to do much better.
Gaming as a whole is a very big industry worldwide where Nazara Technologies is a leading India-based diversified gaming and sports media platform which has a strong brand name too.
Over the period of FY18-20, the revenues of the company have grown at a CAGR of 12.90% while net profit was on declining mode this was due to the new acquisitions made by the company. In FY19-20, Nazara Tech revenue has grown by 45% and it touched the revenue of 247 Crore. The margins of the company are expected to zoom from the current levels.
Nazara Technologies may even trade at a higher multiple as it is a pure-play in the digital world and which has the potential of more than 30% CAGR growth. Its expansion into freemium and e-sports business will surely help the company to do better in the near future.
Laxmi Organic is a leading manufacturer of Acetyl Intermediates and Specialty Intermediates with almost three decades of experience in the large scale manufacturing of chemicals. Since its inception in 1989, it has been on a journey of transformation.
It initially started manufacturing acetaldehyde and acetic acid in 1992, and soon thereafter moved on to manufacturing ethyl acetate in 1996. It is currently among the largest manufacturers of ethyl acetate in India with a market share of approximately 30% of the Indian ethyl acetate market.
Laxmi Organic is the only manufacturer of diketene derivatives in India with a market share of approximately 55 % of the Indian diketene derivatives market in terms of revenue in Fiscal 2020 and one of the largest portfolios of diketene products. Its products are currently divided into two broad categories, namely the Acetyl Intermediates and Specialty Intermediates.
Alembic Pharmaceuticals Limited, Laurus Labs Limited, Granules India Limited, Hetero Labs Limited, Heubach Colour Private Limited, Hubergroup India Private Limited, Huhtamaki India Limited, Macleods Pharmaceuticals Private Limited, Suven Pharmaceuticals Limited, Colourtex Industries Private Limited, and UPL Limited are some of its customers.
The company has a global footprint with customers in 30 countries including but not restricted to China, Russia, Singapore, UAE, UK, USA, Netherland, etc. Currently, it has 2 manufacturing facilities in Mahad, Maharashtra for the manufacturing of AI and SI products. It is also proposing to set-up a new manufacturing facility at Lote Parshuram, Maharashtra to manufacture four speciality chemicals.
The products currently manufactured by us are divided into two categories, namely the Acetyl Intermediates and Specialty Intermediates.
Acetyl Intermediates:
The Acetyl Intermediates find application in inter alia the pharmaceuticals, agrochemicals, inks and paints, coatings, printing, packaging, and adhesives industries. Ethyl acetate is used in multiple industries as a solvent.
Speciality Intermediates:
Specialty Intermediates comprise more than 34 products which include ketene, diketene derivatives namely esters, acetic anhydride, amides, arylides and other chemicals. Speciality Intermediates find application in inter alia the pharmaceuticals, agrochemicals, dyes and pigments.
RISKS RELATING TO BUSINESS
IPO DetailsIPO DateMarch 15th, 2021 to March 17th, 2021Issue TypeBook Built Issue IPOIssue Size45,15,38,46 Equity Shares of ₹2 (aggregating up to ₹600.00 Cr)Fresh Issue23,07,69,23 Equity Shares of ₹2 (aggregating up to ₹300.00 Cr)Offer for Sale23,07,69,23 Equity Shares of ₹2 (aggregating up to ₹300.00 Cr)Face ValueRs.2 per equity shareIPO Price RangeRs.129 to Rs.130 per equity shareMinimum Order Quantity115 sharesListing AtBSE, NSE
IPO Objective:
The company purposes to utilize funds towards the following objectives:
Financial Performance:
Laxmi Organic’s financial performance (in INR crore)Financial YearFY2018FY2019FY2020H1 FY2021Revenue1,396.11,574.31,538.6814.4Expenses1,282.81,476.31,483.5758.2Net income76.072.369.745.6Net margin: (%)5.44.64.55.6
Tentative Time Table:
Incorporated in 1989, Laxmi Organic Industries Ltd is a specialty chemical manufacturer that operates in 2 business segments; Acetyl Intermediates (AI) and Specialty Intermediates (SI)
According to the Frost & Sullivan Report, given its expertise in the Acetyl Intermediates and the Specialty Intermediates segments, its entry into the fluorochemicals space will put it in a differentiated position from other chemical manufacturers.
Laxmi Organic has been the largest exporter of ethyl acetate from India in the six months ended September 30, 2020, and Fiscals 2020, 2019, and 2018 and one of the largest exporters of ethyl acetate to Europe from India since 2012.
For the six months ended September 30, 2020, and the Fiscals 2020, 2019, and 2018, its Company’s revenue from exports of manufactured products contributed 23.17%, 24.24%, 27.80%, and 22.18%, respectively, of its revenue from operations on a standalone basis.
The company has had stable revenue growth over the last three years though the company has not grown significantly over the same period, while we can see a decline in net profits too. The margins of the company have been stable varying between 4%-6%.
At the upper price band of Rs. 130 and EPS of Rs. 2.86, the PE works out to be 37.68 which is higher than the industry average of 21.70. However, their entry into a high margin business of specialty fluorochemicals though the IPO justifies the higher PE.
Eyeing the growth of the intermediaries industry and its growth globally we may expect the company to do well in the upcoming years. Laxmi Organic was the largest exporter of ethyl acetate from India in the six months ending September 2020. We may expect the company to do much better with the new acquisition.
Kalyan Jewellers is one of the largest jewellery companies in India based on revenue as of March 31, 2020. It started its jewellery business in 1993 with a single showroom in Thrissur, Kerala.
The key business activities of the company are to design, manufacture, and sell a variety of gold, studded and other jewellery products for various occasions i.e. wedding, festivals, etc.
Initially, the company was started with a single showroom in Kerala, and over the years, it has expanded its presence with 107 showrooms located across 21 states and union territories in India.
It not just serves the domestic market but also serves overseas customers with 30 showrooms located in the Middle East. The company generates a significant portion of revenues from gold jewellery, accounted for 74.77% in fiscal 2020 followed by studded (diamond and precious stone) and other jewellery segments.
Kalyan Jewellers designs manufacture and sells a wide range of gold, studded and other jewellery products across various price points ranging from jewellery for special occasions, such as weddings, which is its highest-selling product category, to daily-wear jewellery.
The company design, manufacture and sell a wide range of jewellery products at varying price points for uses ranging from jewellery for special occasions such as weddings, which is our highest sold product category, to daily-wear jewellery.
IPO Details:
IPO Date March 16th, 2021 to March 18th, 2021Issue Type Book Built Issue IPO Issue Size135057471 Eq Shares of ₹10(aggregating up to ₹1,175.00 Cr)Fresh Issue91954023 Eq Shares of ₹10(aggregating up to ₹800.00 Cr)Offer for Sale43103448 Eq Shares of ₹10(aggregating up to ₹375.00 Cr)Face ValueRs.10 per equity share IPO PriceRs.86 to Rs.87 equity share Min Order Quantity 172 Listing At BSE, NSE
IPO Objective:
The company purposes to utilize funds towards the following objectives:
Financial Performance:
Kalyan Jewellers’ financial performance (in INR crore)FY2018FY2019FY20209M FY2021Revenue10,580.29,814.010,181.05,549.8Expenses10,366.49,793.19,960.15,608.9Net income140.9-4.8142.2-79.9Margin (%)1.30.01.4-1.4
Tentative Time Table:
IPO Opens on 16 March 2021
IPO Closes on 18 March 2021
Basis of Allotment Date: Mar 24, 2021
Initiation of Refunds: Mar 2021
Credit of Shares to Demat Account: Mar 2021
IPO Listing Date: Mar 26, 2021
Kalyan Jeweller is one of India’s largest jewellery companies with a pan-India presence. The hyperlocal strategy enables the company to cater to a wide range of geographies and customer segments.
In Fiscal 2020, 78.19% of its revenue was from India and 21.81% was from the Middle East. Over the same period, 74.77% of its revenue from operations was from the sale of gold jewellery, 23.36% was from the sale of studded jewellery (which includes diamonds and precious stones), and 1.87% was from the sale of other jewellery.
In fact, in Fiscal 2019, the revenue earned fell by over 9%. This was attributed due to an experimental strategy that the company adopted in that year. The questionable strategy was withdrawn after that year, and the revenue again increased by 3.58%. As the revenue from operations declined in FY 2019, this is also reflected by the net profit earned by the profit.
Another factor that can contribute to the dismal performance in FY 2019 is the severe floods that hit the southern part of India during this time. Owing to this, the demand for gold jewellery was affected.
The total assets owned by the company has shown a CAGR of 5.02% between 2017 and 2020. One positive fact to note here is that the long-term debt of Kalyan Jewellers has shown a consistent decline over the years.
As for India, expenditure on jewellery is one of the top constituents of retail consumption. In 2020, the amount spent on jewellery amounted to Rs. 449 thousand crores. This is expected to grow to Rs. 633 thousand crores by 2025 which will surely benefit the company in the long run.
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