“Gold Gloom: Kalyan Jewellers Shares Plunge 8% Amid Market Concerns”
Kalyan Jewellers share price: The share fell 9.37 percent to hit an intraday low of ₹ 481.35. It finally closed at ₹ 487.25, down 8.27 percent. At this price, it is 38.67 percent down from its recent record high of ₹ 794.60.
Kalyan Jewellers share price: The share fell 9.37 percent to hit an intraday low of ₹ 481.35. It finally closed at ₹ 487.25, down 8.27 percent. At this price, it is 38.67 percent down from its recent record high of ₹ 794.60.
It is revealed from the BSE figures that promoters Ramesh Trikur Kalyanaraman and Seetaaram Trikur Kalyanaraman have increased their stakes in selected financial institutions by 1.65 per cent and 1.85 per cent respectively. Keeping shares pledged to get money through promoters of companies is a common practice.
The share of Kalyan Jewellers also declined when the company hid the information and denied giving bribes to some managers. It started the calendar year 2025 with a bang as the share touched its all-time high on January 2. But since then, it has been on a steep decline and this year so far it has seen a decline in 11 out of 15 sectors.
In an interview to Mumbai, the producer of Jwellery said that no crime was ever hidden in his premises and termed the allegations of corruption as absurd. Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers, said, “Very absurd allegation. We have always conducted our business and discussions with all stakeholders with very high standards of dignity and transparency.”
Kalyanaraman said, “Nothing has been hidden from our premises. It was just a rumour. The inventory mentioned in our financial statement is in violation on many counts. We have repaid debt of about Rs 450 crore in the last 18 months. This is in addition to profit payment of about Rs 170 crore.” The company is scheduled to announce third quarter (Q3 FY25) results on January 30.
In response to a question about purchasing aircraft, Kalyanaraman said, “At Kalyan, we do not have any plan to purchase any aircraft. The company does not have any aircraft except helicopters and there is no plan to sell it.”
At least four analysts have advised to avoid this stock in the near future. Market expert Raghavendra Singh told Business Standard, “Investors can avoid welfare jewelers on current stocks.” Ravi Singh of religious broking said that investors should stay away from this stock. Kushal Gandhi of stockbrokers said, “We advise to avoid buying it and those who are still buying it, we advise them to consider the profit margin.” Osho Krishnan of Angel Broking has also given advice to save money from Kalyan jewelers on the current market Mooli.
