Thu Jan 16 10:14:46 UTC 2025: ## Kalyan Jewellers Stock Plunges Despite Strong Quarterly Growth

**MUMBAI, Jan 16, 2025** – Shares of Kalyan Jewellers continued their downward spiral on Wednesday, dropping as much as 6.5% to a low of ₹518.40 on the BSE. This follows a 10% plunge on Tuesday, which triggered a lower circuit breaker before recovering slightly to close down 7%. The stock has seen declines in 10 out of the last 11 trading sessions since January 3rd.

The fall comes despite the company reporting strong growth in its December 2024 quarter business update. Kalyan Jewellers announced a 39% increase in consolidated revenue, with a 41% rise in its India business and a 24% same-store sales growth. The company also opened 24 new showrooms in India during the quarter and plans further expansion. However, the market reacted negatively, resulting in a significant drop in stock price.

Kalyan Jewellers will release its full October-December 2024 financial results on January 30th. Its market capitalization has fallen to ₹540 billion. While the stock is up 43% year-on-year, it has plummeted 20% in the past week. Trading in the stock is currently restricted under the Future and Options (F&O) ban, preventing the creation of new positions.

Despite the recent decline, eight out of nine analysts covering Kalyan Jewellers recommend buying the stock, with a target price ranging from ₹672 to ₹875. One analyst, however, advises selling.

**Disclaimer:** *This news report is for informational purposes only and does not constitute investment advice. Consult with a certified financial expert before making any investment decisions.*

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