
Shares of Kalyan Jewellers India Ltd have continued their steep decline, hitting the 10% lower circuit on January 15. The stock has dropped by over 30% in 2025, marking its ninth consecutive session of losses. This week’s sharp decline of ₹147.25 or 21.53% has further exacerbated the downward trajectory.
Stock Performance:
- Current Price: ₹536.80
- Day Range: ₹536.80 – ₹602.65
- Market Cap: ₹554.47 billion
- P/E Ratio: 88.44
- Dividend Yield: 0.22%
The sell-off follows rumors of IT raids and alleged inventory overvaluation, which the management has categorically denied. During a management call, Kalyan Jewellers reaffirmed its commitment to transparency, terming the rumors “incorrect,” according to NDTV Profit.
Kalyan Jewellers Share Price history
Day | Open | Close | Change % |
---|---|---|---|
Tue, Jan 14 2025
|
₹581.05
|
₹596.40
|
|
Mon, Jan 13 2025
|
₹600.00
|
₹573.10
|
-8.56%
|
Fri, Jan 10 2025
|
₹660.00
|
₹626.75
|
-5.40%
|
Thu, Jan 9 2025
|
₹708.90
|
₹662.55
|
-6.21%
|
Wed, Jan 8 2025
|
₹724.45
|
₹706.40
|
-2.29%
|
Tue, Jan 7 2025
|
₹777.05
|
₹722.95
|
-2.90%
|
Mon, Jan 6 2025
|
₹781.55
|
₹744.55
|
-4.27%
|
Fri, Jan 3 2025
|
₹790.90
|
₹777.80
|
-1.28%
|
Strong December Quarter Results:
Despite the ongoing correction, Kalyan Jewellers recently reported strong financial performance for the December quarter:
- Revenue Growth: 39% YoY, driven by festive and wedding demand.
- India Business: Revenue surged 41% YoY, with a same-store sales growth of nearly 24%.
- Expansion: Launched 24 new showrooms in Q3 FY2025, with plans for additional openings in the current quarter.
Management’s Outlook:
Ramesh Kalyanaraman, Executive Director at Kalyan Jewellers, urged investors to focus on the long-term trajectory rather than short-term volatility. “Over the past two and a half years, Kalyan Jewellers has delivered consistent performance. The recent correction could be a good opportunity for some investors to enter the stock market,” he stated.
Technical Indicators:
The stock has slipped into the oversold zone, with its Relative Strength Index (RSI) at 29.4 (RSI below 30 indicates oversold conditions). Additionally, Kalyan Jewellers shares are trading below all key moving averages, including the 10-day, 20-day, 50-day, and 200-day averages.
Investor Concerns:
The steep decline in the stock price, despite strong quarterly performance, is attributed to a mix of:
- Profit booking after a strong rally in 2024.
- Broader macroeconomic concerns.
- Market rumors and short-term volatility.