Kalyan Jewellers India Ltd shares are staging a decent comeback after the recent drop. Last checked, the stock was trading 1.13 per cent higher at Rs 572.30 in Wednesday's trade. At this price, it has moved up 26.91 per cent in the last five trading sessions. Despite the mentioned uptick, the scrip has slipped 26.10 per cent in the calendar year 2025 so far.
The jewellery maker posted a 21.16 per cent rise, year-on-year (YoY), in its consolidated net profit for the December 2024 quarter (Q3 FY25). During the quarter under review, profit came at Rs 218.82 crore as against Rs 180.61 crore in the year-ago period. The company's revenue from operations jumped 39.51 per cent to Rs 7,286.88 crore in Q3 FY25 (YoY).
Recently, the company denied talks of IT raids, FIR and bribing a few fund managers. In an earnings audio call, it stated that no IT raids had been conducted at its premises and termed bribery allegations 'absurd'.
"The stock is showing buying interest post the recent dip. We need to monitor the next couple of quarterly results as sales can be impacted in the medium- to short-term due to the rise in gold prices. Investors can buy this stock on dips," said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.
On technical setup, support for Kalyan's counter could be seen in the Rs 535-500 range. A decisive uptick above Rs 594 level is required for further upside.
"Kalyan Jewellers has seen a modest resurgence after a steep correction from its peak of Rs 795 to 420 in the last two trading weeks. The stock is poised to continue its momentum on the higher end towards Rs 600-610 levels, coinciding with the bearish gap. On the lower end, Rs 500 is likely to cushion any shortcomings in the near period," said Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One.
"Support will be at Rs 535 and resistance at Rs 594. A decisive move above Rs 594 level may trigger a further upside towards Rs 620. The expected trading range will be between Rs 535 and Rs 620 for the short term," said Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi.
As of December 2024, promoters held a 42.58 per cent stake in the company.