Kalyan Jewelers Share Price Alert: High of Rs 749 touched today, can it make a new high or will it reverse, know the trend of big players
Kalyan Jewellers’ share price has been a focal point for investors and market analysts alike. As of September 12, 2024, the share price is reported at ₹689.30, reflecting a notable increase of 4.95% from the previous trading session. This article provides a comprehensive update on Kalyan Jewellers’ stock performance, market expectations, and key financial metrics.
Main Points
- 1 Current Kalyan Jewelers Share Price Overview
- 2 Key Price Metrics
- 3 Kalyan Jewelers Share Price Recent Performance and Market Sentiment
- 4 Kalyan Jewelers Share Price Analyst Recommendations
- 5 Factors Influencing Price Action
- 6 1. Corporate Developments
- 7 2. Market Trends
- 8 3. Economic Indicators
- 9 Technical Analysis for Kalyan Jewelers Share Price
- 10 Kalyan Jewelers Share Price Action Expectations
Kalyan Jewellers India Ltd, listed under the symbol KALYANKJIL on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), has shown significant volatility and growth in recent weeks. On September 12, the stock opened at ₹664.25 and closed at ₹689.30, marking a strong upward trend. This rise comes after a previous close of ₹656.80, indicating a positive sentiment among investors.
Key Price Metrics
- Current Price: ₹689.30
- Previous Close: ₹656.80
- Day’s High: ₹695.00
- Day’s Low: ₹650.00
- Market Capitalization: Approximately ₹69,303 Crores
- P/E Ratio: 100.52
- 52-Week Range: ₹203 – ₹695.
Kalyan Jewellers has experienced a remarkable performance over the past year, with a staggering increase of 164.26% in share price. This growth can be attributed to several factors, including strong quarterly earnings and strategic business expansions. The company’s return on equity (ROE) stands at 14.26%, which is significantly higher than its five-year average of 8.79%, showcasing improved operational efficiency and profitability.
Market analysts have generally maintained a bullish outlook on Kalyan Jewellers. Recent recommendations suggest a target price of ₹650, with many analysts rating the stock as a “Buy” based on its strong fundamentals and growth potential. The stock’s performance has also been bolstered by recent corporate actions, including a stake acquisition by the promoter, which further instills confidence among investors.
Factors Influencing Price Action
1. Corporate Developments
One of the significant developments influencing Kalyan Jewellers’ share price is the announcement of a stake purchase by promoter Trikkur Sitarama Iyer Kalyanaraman. This move involves acquiring a 2.36% stake from Highdell Investment for ₹1,300 crore, which is expected to enhance the company’s control and strategic direction.
2. Market Trends
The organized jewellery market in India is projected to grow, driven by increasing consumer demand and a shift towards branded jewellery. Kalyan Jewellers, being one of the largest players in this sector, stands to benefit significantly from these trends. The company’s diverse product offerings, including gold, diamond, and platinum jewellery, cater to a wide range of consumer preferences.
3. Economic Indicators
Broader economic indicators, such as inflation rates and consumer spending patterns, also play a crucial role in shaping investor sentiment. As the Indian economy shows signs of recovery post-pandemic, discretionary spending on luxury items like jewellery is expected to rise, positively impacting Kalyan Jewellers’ sales and profitability.
From a technical perspective, Kalyan Jewellers’ stock has formed a bullish pattern, indicating potential for further gains. The stock’s recent performance has been characterized by higher trading volumes, suggesting strong investor interest. Analysts are closely monitoring key support and resistance levels to gauge future price movements. The immediate resistance level is seen at ₹695, while support is anticipated around ₹650.
Looking ahead, market analysts anticipate continued upward momentum for Kalyan Jewellers’ share price. The combination of strong corporate governance, positive market trends, and robust financial performance positions the company favorably for the future. Investors are advised to keep a close eye on upcoming quarterly results and any further corporate announcements that may impact stock performance.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
