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With Thursday’s drop, the stock is now down in nine out of the last 10 trading sessions.
The stock has been on a losing spree even after the company’s December quarter business update earlier this month. Starting January 3 till date, the stock has gained only once.
The stock though, is in the Futures & Options (F&O) ban in today’s trading session, which means that no new positions can be created on the stock.
CNBC-TV18 had posed three questions that the street would want to seek answers from Kalyan Jewellers. You can read that here.
The jewellery firm reported a consolidated revenue growth of 39% for the December quarter. For the India business, Kalyan’s revenue grew 41% during Q3, led by very strong festive and wedding demand across both gold and studded categories. The quarter recorded healthy same-store-sales-growth of nearly 24%.
The jeweller has launched 24 Kalyan showrooms in India during the recently concluded quarter, with a strong pipeline of showrooms set to open over the course of the current quarter.
In an interaction, Ramesh Kalyanaraman, executive director of Kalyan Jewellers, said it’s essential to look beyond a few days of fluctuations and focus on the longer-term trajectory. “Over the past two and a half years, Kalyan Jewellers has delivered consistent performance. Short-term volatility may have occurred due to profit-booking, corrections, or broader macroeconomic factors,” he said.
He also said that the ongoing correction could be a good opportunity for some inventors to enter the stock market.
For financial year 2026, Kalyan trades at 52 times price-to-earnings, in comparison to Titan’s 60 times.
On the charts, Kalyan Jewellers stock has slipped to the oversold zone, with its relative strength index (RSI) at 24. RSI below 30 is considered oversold. This implies that stock may rebound.
Kalyan Jewellers shares are trading below their 10-day, 20-day, 30-day, 50-day, 100-day and 200-day moving averages.
Out of the nine analysts who have coverage on Kalyan Jewellers, eight of them have a ‘Buy’ rating, while one of them has a ‘Sell’ rating on the stock. Motilal Oswal has the highest price target on the stock at ₹875, while Ventura Securities’ “sell” rating, comes with a price target of ₹692.
Shares of Kalyan Jewellers are currently trading 3.5% lower on Thursday at ₹536.
