Shares of Kalyan Jewellers India witnessed significant pressure, marking the eighth consecutive session of losses. After falling over 6% yesterday, the stock is now down by 24.50% over the past seven trading sessions, closing at ₹588.60 on January 13, 2025.
Management Responds to Rumors
Kalyan Jewellers has addressed recent rumors concerning an IT raid and overvaluation of inventories, terming them “incorrect.” In a management call, the company emphasized the falsehood of these allegations and reiterated its commitment to operational transparency (according to NDTV Profit).
Share Price Performance
- January 13 Close: ₹588.60
- Intraday Low: ₹588.60
- 7-Day Performance: A cumulative loss of 24.50%
- Moving Averages: The stock is trading below its 5-day, 20-day, 50-day, and 100-day moving averages but remains above its 200-day moving average.
Share Price History
| Date | Open (₹) | Close (₹) | Change (%) |
|---|---|---|---|
| Fri, Jan 10 | 660.00 | 626.75 | -5.40% |
| Thu, Jan 9 | 708.90 | 662.55 | -6.21% |
| Wed, Jan 8 | 724.45 | 706.40 | -2.29% |
| Tue, Jan 7 | 777.05 | 722.95 | -2.90% |
| Mon, Jan 6 | 781.55 | 744.55 | -4.27% |
| Fri, Jan 3 | 790.90 | 777.80 | -1.28% |
| Thu, Jan 2 | 778.10 | 787.90 | +1.55% |
| Wed, Jan 1 | 760.00 | 775.85 | +1.25% |
Market Sentiment
The persistent decline in share price comes amid bearish sentiment surrounding the broader market and unverified rumors about the company. Kalyan Jewellers’ response aims to restore investor confidence, although the market’s reaction remains cautious.
Technical Indicators
- Short-term Outlook: Bearish
- Long-term Outlook: Supported by the 200-day moving average.
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