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The stock has been on a losing spree even after the company’s December quarter business update showed continued outperformance on growth.
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 67 times price-to-earnings.
In terms of technicals, the Kalyan Jewellers stock has slipped to the oversold zone, with its relative strength index (RSI) at 29.4. RSI below 30 is considered oversold. This implies that stock may rebound.
The stock has a beta of 0.7, indicating very low volatility in a year.
Kalyan Jewellers shares are trading lower than the 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 locked at ₹536.80. The stock is down over 30% so far in 2025.
First Published: Jan 15, 2025 2:36 PM IST
