Kalyan Jewellers India Ltd shares resumed fall on Wednesday after a single-day halt. The stock slumped 12.41 per cent to hit an intraday low of Rs 522.75. It eventually settled 7.02 per cent lower at Rs 554.90. At this price, the scrip has declined 27.29 per cent in a month.
In the third quarter (Q3 FY25), the company said it recorded a consolidated revenue growth of around 39 per cent when compared to the same period in the previous financial year.
"Our India operations witnessed revenue growth of approximately 41 per cent during Q3 FY2025 as compared to Q3 FY2024, led by very strong festive and wedding demand across both gold and studded categories. The quarter recorded healthy same-store-sales-growth of 24 per cent," it stated. The jewellery firm is scheduled to hold its Q3 earnings call on January 30, 2025.
On technical setup, a few analysts suggested that the counter can slip further in the near term. "The stock may not sustain at upper levels and can slip further in the near term. Investors can avoid Kalyan Jewellers at current levels. Those who want to short it can place a stop loss at Rs 560 targeting a lower level of Rs 530," market expert Raghvendra Singh told Business Today.
"Kalyan Jewellers can witness additional selling pressure. We recommend refraining from purchasing the stock and advising those currently holding to consider booking profits," said Kushal Gandhi, Technical Analyst at StoxBox.
The counter traded lower than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 25.60. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The stock has a price-to-equity (P/E) ratio of 97.87 against a price-to-book (P/B) value of 13.17. Earnings per share (EPS) stood at 5.67 with a return on equity (RoE) of 13.46.
The stock saw high trading volume on BSE today as 17.44 lakh shares changed hands on BSE. The figure was higher than the two-week average volume of 8.73 lakh shares. Turnover on the counter came at Rs 150.91 crore, commanding a market capitalisation (m-cap) of Rs 2,12,633.04 crore.
As per BSE data, promoters held a 62.85 per cent stake in the company.