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With Thursday’s drop, shares of Kalyan Jewellers are down 16% from their recent highs of ₹795.40, which it had hit on January 2 this year.
On the charts, the Relative Strength Index (RSI) of the stock is currently placed at 41.4. An RSI reading below 30 indicates that the stock is in “oversold territory.”
Speaking to CNBC-TV18, Kalyan Jewellers Executive Director Ramesh Kalyanaraman said they don’t see any change in growth trend going forward. Kalyanaraman said that they will open 180 showrooms in India and abroad in FY26.
He also said the third quarter saw a lot of festive demand. On ground, same-store-sales growth is strong, and the company expects a revenue growth of over 25% in FY25.
posted 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.
For financial year 2026, Kalyan trades at 67 times price-to-earnings.
Out of the nine analysts that have coverage on Kalyan Jewellers, eight of them have a ‘Buy’ rating, while the other one has a ‘Sell’ recommendation.
Kalyan Jewellers shared had doubled in value in 2024, having gained 116%.
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 4.4% lower on Thursday at ₹672.40. The stock has risen 76% over the last 12 months.
First Published: Jan 9, 2025 1:57 PM IST
