Kalyan Jewellers shares extend fall, slump 7% today; here's what is weighing on the stock
Despite the recent weakness, Kalyan Jewellers shares have gained 43.07 per cent over the past six months and 18.68 per cent so far this year.
- Sep 1, 2026,
- Updated Sep 1, 2026 1:03 PM IST
Shares of Kalyan Jewellers India Ltd fell sharply in Tuesday's trade, extending their decline for the third consecutive session. The stock dropped 6.78 per cent to hit a day's low of Rs 572.75 on BSE. It was last trading 6.49 per cent lower at Rs 574.55.
Despite the recent weakness, Kalyan Jewellers shares have gained 43.07 per cent over the past six months and 18.68 per cent so far this year.
Why the stock is falling
Ravi Singh, Chief Research Officer at Master Capital Services, said the stock has come under selling pressure following concerns over gold demand.
"Kalyan Jewellers has come under strong selling pressure over the last three sessions. The fall is mainly driven by concerns over gold demand after Prime Minister Narendra Modi again urged consumers to exercise restraint in buying gold. The comments have raised worries about a possible slowdown in jewellery purchases, which could weigh on Kalyan Jewellers' sales and growth outlook," Singh stated.
He added that similar remarks had affected the stock in the past, making investors cautious. "The recent weakness remains sentiment-driven, and if selling pressure continues, the stock can decline towards Rs 550 level in the near term," Singh said.
From a technical perspective, AR Ramachandran, Sebi-registered research analyst at Tips2trades, said, "Kalyan Jewellers' stock is bearish on daily charts with strong resistance at Rs 615. A daily close below the support of Rs 585 could trigger a fall towards Rs 541 in the near term."
Q1 earnings
Kalyan Jewellers reported a 32 per cent year-on-year (YoY) rise in consolidated net profit to Rs 349 crore for the first quarter of fiscal 2027, compared with Rs 264 crore in the corresponding period of the previous financial year.
Consolidated revenue from operations increased 46 per cent YoY to Rs 10,589 crore in Q1 FY27, from Rs 7,268 crore a year earlier.
As of June 30, 2026, the company had 524 showrooms across India and international markets. These included 354 Kalyan India stores, 38 Kalyan Middle East stores, two Kalyan USA stores, one Kalyan UK store and 129 Candere outlets.
Shares of Kalyan Jewellers India Ltd fell sharply in Tuesday's trade, extending their decline for the third consecutive session. The stock dropped 6.78 per cent to hit a day's low of Rs 572.75 on BSE. It was last trading 6.49 per cent lower at Rs 574.55.
Despite the recent weakness, Kalyan Jewellers shares have gained 43.07 per cent over the past six months and 18.68 per cent so far this year.
Why the stock is falling
Ravi Singh, Chief Research Officer at Master Capital Services, said the stock has come under selling pressure following concerns over gold demand.
"Kalyan Jewellers has come under strong selling pressure over the last three sessions. The fall is mainly driven by concerns over gold demand after Prime Minister Narendra Modi again urged consumers to exercise restraint in buying gold. The comments have raised worries about a possible slowdown in jewellery purchases, which could weigh on Kalyan Jewellers' sales and growth outlook," Singh stated.
He added that similar remarks had affected the stock in the past, making investors cautious. "The recent weakness remains sentiment-driven, and if selling pressure continues, the stock can decline towards Rs 550 level in the near term," Singh said.
From a technical perspective, AR Ramachandran, Sebi-registered research analyst at Tips2trades, said, "Kalyan Jewellers' stock is bearish on daily charts with strong resistance at Rs 615. A daily close below the support of Rs 585 could trigger a fall towards Rs 541 in the near term."
Q1 earnings
Kalyan Jewellers reported a 32 per cent year-on-year (YoY) rise in consolidated net profit to Rs 349 crore for the first quarter of fiscal 2027, compared with Rs 264 crore in the corresponding period of the previous financial year.
Consolidated revenue from operations increased 46 per cent YoY to Rs 10,589 crore in Q1 FY27, from Rs 7,268 crore a year earlier.
As of June 30, 2026, the company had 524 showrooms across India and international markets. These included 354 Kalyan India stores, 38 Kalyan Middle East stores, two Kalyan USA stores, one Kalyan UK store and 129 Candere outlets.