Kalyan Jewelers Shares: The selling of shares of Kalyan Jewelers has not stopped. It has broken for the third consecutive trading day. This year, after the start of 2025, it reached its record high on the second day itself but then the selling started and stopped only on January 14 but then it was broken today for the third consecutive trading day. The most important reason for the decline of its shares is profit-booking because last year it had risen at a rapid pace. Last year it had strengthened by more than 116 per cent whereas three years ago it was below Rs 70. At the beginning of this year it had reached close to Rs 800.
At present it is at the price of Rs 506.30 with a decline of 6.07 percent. It slipped 6.63 percent to Rs 503.25 intra-day. Its market cap on January 2 was Rs 82 thousand crore, which is now Rs 52 thousand crore, that is, in less than two weeks, investors’ money has decreased by Rs 30 thousand crore.
What is the trend of brokerages on Kalyan Jewellers?
Talking about the charts, Kalyan Jewelers remains in the oversold zone. Its Relative Strength Index (RSI) is at 21 and its going below 30 means oversold. Speaking to CNBC-TV18, the Executive Director of Kalyan Jewelers said that the company’s shares have given excellent returns for the last two and a half years and the pressure seen now is for short term and is due to profit booking, broad macroeconomic factors, correction. It is only there.
Chandan Taparia of Motilal Oswal Financial Services says that shares of Kalyan Jewelers are making lower top and lower bottom as it has not been able to cross the level of Rs 800. Chandan says that it tried to break the ₹ 780 – ₹ 795 zone about 5 times but ultimately lost and moved downwards. In such a situation, he believes that there can be more profit booking and if it comes below ₹530 then it can come to ₹490-₹495. Whereas HSBC and Citi have given it a target price of Rs 810.
How were the shares in one year?
Shares of Kalyan Jewelers have made huge profits for the investors. Last year on February 1, 2024, it was at Rs 322.05, which is a one-year low for its shares. From this low level, it jumped by about 147 percent in 11 months and reached the price of Rs 794.60 at the beginning of this month on January 2, 2025, which is a record high for its shares. However, the rise in shares stopped here and at present it is more than 36 percent downside from this high.
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