Mumbai: Shares of Kalyan Jewellers have fallen sharply over the last few trading sessions as heavy selling by institutional investors has weighed on the market’s sentiments. In fact, the stock has declined by almost 13-14% in a single session, making it one of the worst-performing jewellery stocks in recent weeks.
The company’s management had earlier denied allegations of colluding with fund managers to ‘manage’ the share prices, terming them as absurd.
‘We have always conducted our business, and our interactions with all stakeholders are with a very high level of integrity and transparency,’ said Ramesh Kalyanaraman, Promoter and Executive Director of the company, said during an analyst call on Tuesday, January 20.
Sundaram Midcap Fund, the Government of Singapore and Warburg Pincus have been offloaded their shares in the Kerala-based jewellery brand, while retail investors have taken their place. According to NSE data, almost 376.39 lakh shares have changed hands, with retail investors now holding 5.88% of the company’s stock.
This is despite Kalyan Jewellers reporting a 42% year-on-year rise in consolidated revenue to Rs.7,318 crore for Q3 FY26, on the back of strong festive demand and expansion.
According to Aakash Shah, Technical Research Analyst at Choice Equity Broking, the offloading of shares indicates panic selling by investors even as there are no negative triggers that have induced the surge in trading volumes.
Overall, Kalyan Jewellers shares have declined 18% in the last 12 months, even as some Mutual Funds have trimmed their holdings. With this, the shares have declined more than 19% in the past one week.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.
