Kalyan Jewellers hit fresh 52-week low! Stock down nearly 39% in six months; what's next?

Shares of Kalyan Jewellers India Ltd continued their sharp decline in Tuesday's trade, sliding 5.39 per cent to touch a new one-year low of Rs 347.65. The stock recovered some lost ground as the session progressed and was last seen trading 0.50 per cent lower at Rs 365.60. At this level, it has lost 24.86 per cent in a month and 38.82 per cent over the last six months. The Kerala-based jeweller is scheduled to announce its third-quarter (Q3 FY26) earnings next month on February 6.

From a technical standpoint, some analysts largely stayed 'bearish' on the counter. The next support would be around Rs 340.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "Kalyan Jewellers has fallen sharply, breaching its historical support zone around 40-380 and plummeting to oversold territory. With the recent breakdown, the technical structure seems disrupted, with room on the downside for the counter. On the levels front, the Rs 400 subzone is likely to act as an intermediate hurdle, and a decisive surge beyond the same could only provide some respite. On the flipside, the next potential support is seen around the Rs 340 zone."

Ravi Singh, Chief Research Officer at Mastertrust, noted that the counter appeared weak on charts and could slip towards Rs 340 level.

The stock is trading below 5-day, 10-, 20-, 30-, 50-, 100, 150-day and 200-day simple moving averages (SMAs). The 14-day Relative Strength Index (RSI) stands at 16.91. A level below 30 is defined as oversold, while a value above 70 is considered overbought.

BSE data shows that Suzlon is trading at a standalone and consolidated price-to-earnings (P/E) ratio of 40.95 and 40.57, respectively, with a price-to-book (P/B) value of 8.69. The company reported standalone and consolidated earnings per share (EPS) of 8.93 and 9.01, while its return on equity (RoE) stood at 21.22.

According to Trendlyne, the stock has a one-year beta of 1.55, indicating high volatility.