Shares of Kalyan Jewellers India Ltd started calendar year 2025 on a strong note as the counter scaled its all-time high level on January 2. But the stock has been mostly declining since then. It was seen trading lower in nine out of 12 sessions this year so far.
On Thursday, the stock dived 6.60 per cent to hit a day low of Rs 518.30. At this price, it has corrected 34.77 per cent from its record high of Rs 794.60.
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. The jewellery firm is scheduled to hold its Q3 earnings call on January 30.
On technical setup, analysts largely suggested that investors can avoid this counter 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," market expert Raghvendra Singh told Business Today.
"Kalyan Jewellers looked weak on charts and can slip towards Rs 500. Investors should exit at current levels," said Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking.
"The stock can witness additional selling pressure. We recommend refraining from purchasing it 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 23.50. 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 93.34 against a price-to-book (P/B) value of 12.56. Earnings per share (EPS) stood at 5.67 with a return on equity (RoE) of 13.46.
Kalyan Jewellers saw high trading volume on BSE today as 15.23 lakh shares changed hands on BSE at the time of writing this story. The figure was higher than the two-week average volume of 6.75 lakh shares. Turnover on the counter came at Rs 81.43 crore, commanding a market capitalisation (m-cap) of Rs 54,815.63 crore.
As per BSE data, promoters held a 62.85 per cent stake in the company.